Airbnb called New York City the “Grinch who stole summer,” but will have to adjust the jibe to the thief who robbed Labor Day after a new deadline for short-term rental rules.
The city postponed enforcement of Local Law 18 from next month to Sep. 5, according to a court filing reported by Bloomberg. The delay comes after Airbnb filed two lawsuits against the city, seeking an injunction against the law while the cases were being litigated.
While Airbnb celebrated the decision, it’s already looking ahead to next steps regarding the short-term rental measure.
“We hope the city will use the extra time to collaborate with us on a sensible alternative solution that will benefit hosts, tourism, and the local economy,” Airbnb lawyer Karen Dunn said in a statement.
Local Law 18 requires hosts on Airbnb and other home-sharing platforms to register their rentals with the city and aims to prevent owners from renting out multiple units at the same time.
The state already bans renting out a unit for fewer than 30 days unless the full-time resident is home, but enforcement of that law has been a challenge.
Hosts haven’t seemed too inclined to register their short-term rentals with the city, with only 29 units were registered as of May 3. Airbnb claimed just nine of those, or 0.05 percent of its annual net revenue in the city.
The company said it will lose $6.7 million in net revenue per month and $85 million per year as a result of Local Law 18, part of the city’s strict regulation of short-term rentals.
There are still roughly 43,000 listings in the city, many of which brush up against either the local or state law.
— Holden Walter-Warner
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