New NYC Airbnb Law Requires You To Register Your Short-Term Rentals
May 11, 2023 airbnb,brooklyn,Brooklyn Landlords,brooklyn real estate,landlord tips,nyc laws,renting in brooklyn,short term rentals
A short-term rental property has become a popular side hustle to provide an additional income stream. This is where tenants, landlords, and building owners are at battle. Some New York residents are applying for rentals without intending to live there. The idea is to list them as short-term rental properties on websites like Airbnb, Vrbo, Booking.com, and others.
What is New York doing about it? They are implementing a new NYC Airbnb law, specifically Local Law 18.
How does Local Law 18 work?
Local law 18 requires owners and renters to register their short-term rentals with the Mayor’s Office of Special Enforcement (OSE). A registration number will then be given to the host, and they are required to display it in all listings. Sites like Airbnb will be prohibited from posting listings for unregistered short-term rentals.
Existing short-term rental laws in NYC will not change. Owners or renters can only rent an entire apartment for up to 30 days, even if the host owns or lives in the building. Short-term rentals are only allowed if the host remains in the same unit as guests, and up to two guests are permitted.
What is the registration process like for this new NYC Airbnb law?
When hosts register with the city, they must confirm that they are the owner or tenant through bank statements or utility bills. This proves that offering a short-term rental does not violate the lease, laws in place for short-term rentals, or zoning rules.
The hosts have to provide information about themselves and the unit, such as:
- Proof of Identity
- the full names of everyone who lives in the unit
- A diagram of their property that shows which rooms will be used for the short-term rental and where the emergency exits are located
There is a $145 non-refundable fee to process the application. Both hosts and sites that fail to comply can be penalized with fines for hosts for as much as $5,000, and platforms could face penalties of $1,500.
It’s important to note the OSE will not begin enforcing the registration law requirements until July 2023.
Banned Building List For Landlords and Building Owners
Owners, Co-ops, and condo boards can register their buildings on a banned building list that blocks tenants from registering a short-term rental. If this happens, landlords and boards will be notified so they can confirm or block the request.
You can register for the prohibited building list with OSE now.
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