The New York state legislature is closing in on tighter regulations for the short-term rental start-up Airbnb. Last week, a bill was passed that would make it illegal to advertise entire apartments for rent for less than 30 days.
According to a recent analysis by The Real Deal, about 60 percent of Airbnb’s listings in the city are for whole units — meaning the owner isn’t home when the unit is rented out. If the bill is signed by Gov. Andrew Cuomo, those who post such listings would be fined $1,000 for a first-time offense, $5,000 the second time and $7,500 for any subsequent violations.
Advocates of the bill say that it will help to ease the affordable housing crisis in the city, those fighting it argue that regular New Yorkers depend on sites like Airbnb to help pay their bills.
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