New York Governor, Andrew Cuomo, has 10 days to sign or veto a bill passed by the state of New York that would impose strict fines on those renting their homes and apartments in multiple-dwelling buildings for less than 30 days. The bill is touted as a workaround, as renting for less than 30 days is already illegal in the state albeit difficult to enforce. Such rules are designed to deter property owners from operating so-called illegal hotels and protect the residential housing supply in cities where it is already strained. If passed into law, however, it would make advertising such listings illegal. In an interview with Fox News, Cuomo said he was “very concerned” about the bill’s potential impact on renters who are trying to save money while keeping up appearances. Airbnb has threatened to sue if the law goes into effect.
New York Governor, Andrew Cuomo, has 10 days to sign or veto a bill passed by the state of New York that would impose strict fines on those renting their homes and apartments in multiple-dwelling buildings for less than 30 days. The bill is touted as a workaround, as renting for less than 30 days is already illegal in the state albeit difficult to enforce. If passed into law, however, it would make advertising such listings illegal. In an interview with Fox News, Cuomo said he was “very concerned” about the bill’s potential impact on renters who are trying to save money while keeping up appearances. Airbnb has threatened to sue if the law goes into effect.