Ashton Kutcher urges Cuomo not to sign Airbnb bill

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

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
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Chicago Bulls’ DeRozan buys mansion from Michael Jordan’s ex-wife at discounted $4.5M
Chicago Bulls’ DeRozan buys mansion from Michael Jordan’s ex-wife at discounted $4.5M
Chicago Bulls’ DeRozan buys mansion from Michael Jordan’s ex-wife at discounted $4.5M
MTA plans mixed-use redevelopment for Greenpoint waterfront
MTA plans mixed-use redevelopment for Greenpoint waterfront
MTA plans mixed-use redevelopment for Greenpoint waterfront
Existing home sales were on the upswing in September following a slight dip in August. (iStock)
Existing home sales rebound in September, rising by 7%
Existing home sales rebound in September, rising by 7%
Ex-partners’ feud stalls $140M development in Port Chester
Ex-partners’ feud stalls $140M development in Port Chester
Ex-partners’ feud stalls $140M development in Port Chester
SL Green CEO Marc Holliday, Chelsea Piers Fitness CEO David Tewksbury and One Madison Avenue (Getty, SL Green)
Chelsea Piers is coming to SL Green’s One Madison
Chelsea Piers is coming to SL Green’s One Madison
arrow_forward_ios

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

Loading...