On Friday, October 21, 2016, Governor Andrew M. Cuomo signed into law a tough new anti-Airbnb measure which significantly alters the landscape of short-term apartment rentals in New York City. The new law makes it illegal for anyone to advertise the use of an apartment in a manner that would violate a 2010 New York law banning apartment rentals for under 30 days. The law specifies that any person found to have violated the new law faces fines of up to $1,000 for the first violation, up to $5,000 for the second violation, and up to $7,500 for the third and subsequent violations.
In practical terms, the new law renders illegal, and subject to monetary penalty, most New York City rental advertisements found on Airbnb’s website, as well as the websites of competitors such as HomeAway.com and VRBO.com.
The new law took effect immediately upon being signed by Governor Cuomo, although Airbnb immediately filed a federal lawsuit to block its enforcement.
Please call us at  867-6000 if you have questions about this latest development, or if you believe that any of your tenants are advertising or engaging in short-term apartment rentals in violation of law.