Thousands of Airbnb rentals in New York City are at risk of being delisted as the city has failed to verify new rules that come into effect after Labor Day, according to a report. In order to comply with strict occupancy regulations and building codes, owners who utilize home-sharing platforms like Airbnb and Vrbo were required to apply for a license by September 5. However, the city’s Office of Special Enforcement, responsible for licensing and regulating the home sharing industry, has only approved 257 out of 3,250 applications, causing a backlog.
This backlog has left Airbnb hosts like Ilan Rabinovitch in a frenzy, as they struggle to reassure anxious callers who have made bookings at their Upper West Side brownstone through the end of the year. Rabinovitch expressed his uncertainty, stating, “I’m like, I don’t know, I’ll let you know if I ever get approved.”
It is estimated that approximately 7,500 rental units on Airbnb do not meet the strict licensing requirements and are likely to be removed from the platform. Hosts who fail to obtain a license could face fines of up to $5,000. Airbnb has been engaged in a regulatory battle with New York City and other cities across the country for years. In New York, hosts are prohibited from renting out their homes on the platform for less than 30 days unless the permanent tenant is present. City officials argue that home-sharing sites like Airbnb and VRBO exploit the system by renting out entire buildings or a significant portion of units to tourists without adhering to the 30-day rule.
The city’s Office of Special Enforcement has not provided a comment regarding the situation. Market analytics firm AirDNA estimates that only 9,500 out of Airbnb’s 23,000 listings in New York City are legal. Among the 7,500 units that do not meet licensing requirements, more than half are among the most popular Airbnb rentals, accounting for 40% of Airbnb’s income in the city. It is worth noting that Airbnb has filed a lawsuit against the city over these regulations.
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