NYC thought banning Airbnbs would solve the housing crisis.
Summary
The video discusses the impact of banning short-term rentals (STRs) in New York City. Instead of solving the housing crisis, the ban led to record low vacancy rates and record high rents, as many units did not return to the long-term market and hotels benefited from higher rates. The video emphasizes that increasing housing supply is the true solution to housing costs.
More from Regulations & Compliance
Carson City, Nevada, is refining its short-term rental regulations. City supervisors are currently reviewing and modifying the local ordinance during a retreat. This review aims to address operational aspects, potentially impacting local hosts through new or revised rules, emphasizing compliance.
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St. Louis aldermen have approved a short-term rental fee, though a legal battle over existing rules continues. This indicates a focus on regulating the STR market within the city. Hosts in St. Louis should be aware of these new fees, which may impact their profitability. Find out how this affects your STR business.
Curated by Learn STR by GoStudioM