New York City Airbnb Hosts Face Listing Removals As Compliance Deadline Nears
Nasdaq (RTTNews) - New York City's Airbnb landscape is bracing for a seismic shift as the city grapples with enforcing new regulations set to take effect post-Labor Day. The imminent threat of thousands of Airbnb listings being removed from the platform looms large due to the city's sluggish progress in verifying compliance with these rules.
The city mandated that owners using home-sharing platforms like Airbnb and Vrbo must secure a license by September 5th to ensure adherence to stringent occupancy regulations and building codes. However, the process has hit a significant snag, with the city's Office of Special Enforcement, tasked with licensing and regulating the home-sharing industry, having approved only 257 rental host registrations out of a staggering 3,250 applications, as per Bloomberg.
