Insight
Regulatory changes like Local Law 18 can have a substantial negative impact on host revenue and profitability in specific markets.
Local Law 18 has led to Queens losing over $100 million in short-term rental income: Report
Summary
Queens has reportedly lost over $100 million in short-term rental income due to Local Law 18. This indicates a significant financial impact on hosts operating in the borough under stricter regulations.
Key takeaway