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Oct 25, 2016

Update on Short-Term Rentals

happy young couple opening door and welcoming friends apartment

On October 21st, Governor Cuomo signed into law a bill that allows fines to be imposed on persons who advertise short-term rentals such as those commonly marketed through Airbnb and similar services. The penalties available are $1,000 for the first violation, $5,000 for the second violation and $7,500 for third and subsequent violations. Airbnb challenged the validity of the law almost immediately in federal court but, unless its enforcement is enjoined or it is struck down, it will remain in effect. As we discussed in our prior memorandum dated March 4, 2015, titled “Occupants”, New York State law bans the… Read more