\nCould this also be enforced in Asian cities?
\nAn Airbnb user looks for rentals in Thailand. ArthurStock\/Shutterstock
\nIt\u2019s happened: after months of talks, Airbnb is now illegal in the big apple.
\nOn Friday Governor Andrew Cuomo signed legislation which means anyone advertising a short-term rental apartment on a home sharing site can face a fine of up to USD7,500.
\nThe average New York host earns roughly USD5,000 a year from renting out their room while on holiday or away from home.
\nThe bill, which is effective immediately, aims to reduce the amount of people who turn their homes into hotels. Doing so takes potential rental housing off the market and means cities miss out on tax revenue.
\n\u201cThis is an issue that was given careful, deliberate consideration, but ultimately these activities are already expressly prohibited by law,\u201d Cuomo spokeman Rich Azzopardi said.
\nHowever, data released from Airbnb in July showed that 96 percent of its hosts in New York City had only one listing and only shared the space on a sporadic basis.
\nAirbnb has filed a lawsuit challenging this change in law. They argue that by holding them liable for third-party rental listings on its platform, the New York law violates a federal law.
\n\u201cA majority of New Yorkers have embraced home sharing, and we will continue to fight for a smart policy solution that works for the the people, not the powerful,\u201d Airbnb said.<\/p>\n
More: Is Homelike the Airbnb of business travel?
Could this also be enforced in Asian cities? An Airbnb user looks for rentals in...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-31564","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-8d6","jetpack-related-posts":[{"id":11788,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/berlin-authorities-crack-down-on-airbnb-rental-boom\/","url_meta":{"origin":31564,"position":0},"title":"Berlin authorities crack down on Airbnb rental boom","date":"May 2, 2016","format":false,"excerpt":"\r Owners can no longer let whole properties to tourists, as officals blame websites including Airbnb, Wimdu and 9Flats for driving up rentsBerlin began restricting private property rentals through Airbnb and similar online platforms on Sunday, threatening hefty fines in an attempt to keep housing affordable for local people. Related:\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24354,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/airbnb-signing-bonus-could-eat-into-vancouvers-rental-housing-stock\/","url_meta":{"origin":31564,"position":1},"title":"Airbnb signing bonus could eat into Vancouver's rental housing stock","date":"August 30, 2016","format":false,"excerpt":"\r As the City of Vancouver examines the impact of short-term rental companies, such as Airbnb, VRBO, OwnersDirect and Flipkey, Airbnb has started upping the ante by offering new hosts a C$250 (US$192)\u00a0signing bonus.\r \r Source : South China Morning Post\r Read more...Airbnb signing bonus could eat into Vancouver's rental\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96774,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tenants-fined-for-auckland-airbnb-room-rental\/","url_meta":{"origin":31564,"position":2},"title":"Tenants fined for Auckland Airbnb room rental","date":"August 28, 2018","format":false,"excerpt":"\r South Auckland tenants who illegally sub-let a room in their home on global website Airbnb have been ordered to pay $1222.94 for breaching their rental agreement.Landlords say they are considering adding a new rental agreement clause...\r \r Source : nzherald.co.nz\/Property\r Read more...Tenants fined for Auckland Airbnb room rental","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":52339,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rental-fiasco-is-airbnb-pricing-out-long-term-renters\/","url_meta":{"origin":31564,"position":3},"title":"Rental fiasco: Is Airbnb pricing out long term renters?","date":"April 20, 2017","format":false,"excerpt":"\r Accommodation company Airbnb is on the rise, but is it the reason why so many renters are struggling to find a property?Jess Walker, founder of Airbnb management firm Idle Property, does not believe this is the case.\"At the moment...\r \r Source : nzherald.co.nz\/Property\r Read more...Rental fiasco: Is Airbnb pricing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":80750,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/homeowners-are-using-airbnb-rental-income-to-refinance-mortgages\/","url_meta":{"origin":31564,"position":4},"title":"Homeowners are using Airbnb rental income to refinance mortgages","date":"February 22, 2018","format":false,"excerpt":"\r Homeowners can now use income from Airbnb to qualify for mortgage refinances, thanks to a new pilot program through Fannie Mae.\r \r Source : cnbc.com\r Read more...Homeowners are using Airbnb rental income to refinance mortgages","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101662,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rental-marketplace-rolls-out-airbnb-plus-for-luxury-homes\/","url_meta":{"origin":31564,"position":5},"title":"Rental marketplace rolls out Airbnb Plus for luxury homes","date":"November 26, 2018","format":false,"excerpt":"\r Short-term accommodation rental marketplace Airbnb has rolled out a new feature grouping premium properties into a personally-inspected category.Airbnb Plus, designed for guests looking for beautiful homes and exceptional hosts,...\r \r Source : nzherald.co.nz\/Property\r Read more...Rental marketplace rolls out Airbnb Plus for luxury homes","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/31564"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=31564"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/31564\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=31564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=31564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=31564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nAirbnb and similar sites have become increasingly popular in Asia, and despite legal restrictions of their own, these have rarely been enforced, meaning the platforms have thrived.
\nIn Thailand, Airbnb contravenes the Hotel Act and while these type of short term rentals are commonplace, a crackdown has been seen in the Thai resort town of Phuket.
\nIn July of this year, owners of all 234 registered condo projects in Phuket were sent a written warning that they will receive a fine of up to THB20,000, (USD557) or a year in jail, should their property be found to be violating the law.
\nBangkok based lawyer Desmond Hughes, of Asia based law firm Hughes Krupica, previously told Property Report:
\n\u201cAirbnb and companies like them are not responsible for legal compliance of the landlords and tenants. Therefore, no reliance or burden can be shifted away to them in general terms.\u201d He continued: \u201cWhen it comes to individuals using their properties for standalone occasional rental, they must have regard to the laws of Thailand and cannot rely upon the use of an internet portal to somehow \u2018escape\u2019 from regulation.\u201d
\nSimilarly, in Singapore, while Airbnb and the similar PandaBed thrive in terms of popularity, it\u2019s technically illegal to rent out rooms or entire apartment for less than six months in the city state. Many homeowners however, continue to take the risk to earn extra income.
\nRead next: 5 reasons HNW travellers are opting for luxury apartments over hotels
\n
\nSource : property-report.com
\nRead more…Airbnb is now banned in New York City<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"