'Airbnb Claims NYC's Strict New Rules Could Spur 'De Facto Ban' On Service Citywide: Suit' - NY Post
Portfolio Pulse from Happy Mohamed
Airbnb and several hosts have sued New York City over new registration requirements that they claim could effectively ban the service in the city. The regulation, which took effect in January and will be enforced from July, requires hosts to register with the city and comply with complex building, zoning, and other codes. Airbnb argues that the regulation is a de facto ban on short-term rentals and is intended to drive the trade out of New York City.

June 01, 2023 | 10:00 pm
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Airbnb is suing New York City over new registration requirements that could effectively ban the service in the city, potentially impacting the company's revenue and growth.
The new regulation requires hosts to register with the city and comply with complex building, zoning, and other codes. If enforced, this could lead to a significant reduction in Airbnb's listings in New York City, which would negatively impact the company's revenue and growth. Additionally, the ongoing legal battle with the city could harm Airbnb's reputation and investor sentiment.
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