Earlier this month, the New York County Supreme Court dismissed Airbnb’s challenge to New York’s Short-Term Rental Registration Law. The Law requires that hosts obtain a registration for short-term rentals, and platforms, such as Airbnb, verify that the property being rented is either exempt from registration or is validly registered. The Law will go into effect on September 5.
Braverman Greenspun associate Maria Boboris discussed how the Law will impact condos and co-ops with Crain’s New York Business. Maria noted, “The winners are the residents of condos and co-ops who have been impacted by Airbnb.” Maria shared that condo and co-op boards should sign up for the prohibited buildings list to end the power struggle between the city and home-sharing platforms.
The full Crain’s New York Business article can be accessed here.