Airbnb Is Screwing Over New York’s Vulnerable Neighborhoods
Here in New York, where the city cracked down on short term rentals more than a hundred years ago, renting out your home for less than 30 days is illegal as of October 2016. But many landlords continue to rent out entire homes to tourists and visitors—today, 12,200 units are available on Airbnb in New York City in total—allowing them to reap in an income that’s higher than what they could make from renting those same units long term. That causes gaps in the housing market.
“If you’re a landlord, you face strong incentives to kick your out tenants,” Wachsmuth said.