Ashton Kutcher urges Cuomo not to sign Airbnb bill

The bill imposes fines of up to $7,500 on hosts

TRD New York /
Aug.August 10, 2016 08:56 AM

Ashton Kutcher, along with the co-founders of Facebook and PayPal, are urging Gov. Andrew Cuomo to veto a bill that would impose fines on Airbnb hosts.

Kutcher, an Airbnb investor, was among those who penned a letter calling on the governor to oppose the legislation sitting on Cuomo’s desk, the Wall Street Journal reported. In June, the state Senate and Assembly passed a bill that would impose fines as high as $7,500 on Airbnb hosts who advertise rentals for less than 30 days if the owner isn’t present.

“As investors and industry leaders, we believe in the good that Airbnb and home sharing have done for residents of New York,” the letter states. “We implore you to reaffirm your commitment to fostering technology and innovation.”

Facebook co-founder Chris Hughes and Paypal co-founder Peter Thiel also signed the letter. Those who support the bill, including the Real Estate Board of New York, argue that it will help curb illegal short-term rentals. It’s already illegal in New York to rent out an apartment for less than 30 days unless the sublessor occupies the apartment, but an analysis by The Real Deal in October showed that roughly 60 percent of Airbnb’s listings are for whole units.

In June, Airbnb raised $850 million at a $30 billion valuation. [WSJ]Kathryn Brenzel 


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
(iStock)

Real estate stocks end week mixed as virus fears rise and markets fall

Real estate stocks end week mixed as virus fears rise and markets fall
CBRE CEO Bob Sulentic; the firm has shifted its global HQ from LA to Dallas. (CBRE, Getty)

“Sad day” in LA: CBRE’s corporate exit latest blow to dented office market

“Sad day” in LA: CBRE’s corporate exit latest blow to dented office market
Planet Hollywood in Times Square and Vornado CEO Steven Roth (Photos via Getty; VNO)

Vornado sues Planet Hollywood for $6M in missed rent

Vornado sues Planet Hollywood for $6M in missed rent
Marisa Hochberg (Getty)

Montauk squatting dispute ties influencer to Cuomo

Montauk squatting dispute ties influencer to Cuomo
Redfin CEO Glenn Kelman (Photos via Redfin; Getty)

Redfin accused of redlining in lawsuit

Redfin accused of redlining in lawsuit
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...