New York City will delay enforcement of a new city law that Airbnb Inc. says could limit the number of people who can host rentals in the city, a court filing on Friday showed.
The short-term rental company filed a lawsuit against the city on June 1 over the law it calls a “de facto ban” on short-term rentals set to go into effect July 1.
Under this law, hosts must be permanent occupants of the accommodations they rent and must register with the Mayor’s Office of Special Enforcement (OSE) before posting rental advertisements.
The bureau will not issue fines to hosts or booking services until September 5, according to the filing.
New York City Mayor Eric Adams’ office did not immediately respond to a request for comment.
Airbnb said the law would make it harder for hosts to operate by requiring them to comply with numerous zoning regulations, housing laws, and housing construction and maintenance codes.
“We hope the city will use the time to work with us on a reasonable alternative solution that will benefit hosts, tourism and the local economy,” said Airbnb attorney Karen Dunn, partner at Paul, Weiss, in a statement.
Airbnb said that in the first week of July, more than 5,500 short-term rentals were booked to accommodate more than 10,000 hosts in New York City.
Shares of the company rose 5% to $122.71.
The case is Airbnb Inc. v New York City Mayor’s Office of Special Enforcement in New York State Supreme Court in Manhattan. (Reporting by Doyinsola Oladipo in New York; Writing by Richard Chang)
2023-06-12 17:57:17
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