Airbnb Files Suit Over Law Curbing Short-Term Rentals
Real Estate attorney Stuart Saft was quoted in a Habitat Magazine article discussing a new law in New York City that aims to reduce the number of illegal short-term apartment rentals. Currently, in buildings with three or more units, it is illegal to rent for fewer than 30 days if the owner or lease-holder is not present during the rental period. Local Law 18 adds a provision requiring anyone who wants to rent for fewer than 30 days to register with the Mayor's Office of Special Enforcement and obtain a registration number. In addition, co-ops, condo boards and other building owners can sign on to a list of "prohibited buildings" in which all short-term rentals are forbidden. The law has faced opposition from companies like Airbnb, which recently filed a lawsuit seeking to have it revoked. However, Mr. Saft, who also serves as chairman of the Council of New York Cooperatives & Condominiums, explained why the law is a positive for owners.
"I love Local Law 18!" he remarked. "Building owners, including co-op and condo boards, can now register with the city to forbid short-term housing."