75%+ of short-term Airbnb rentals disappeared in NYC
Last September, New York City enforced a long-debated and much-contested policy, known as Local Law 18, which placed regulations on unlicensed short-term rentals listed on platforms like Airbnb and Vrbo. These included banning all stays for periods shorter than 30 days if the host is unregistered, as well as requiring short-term hosts to be physically present for the duration of their guests’ stays and limiting the number of paying guests in any property to 2.
A wave of applications to become a registered host soon followed; however, of the 6,395 short-term rental applications that the Office of Special Enforcement received from March ‘23 to June ‘24, only a third have been approved. As a result, the number of short-term rentals on Airbnb in NYC plummeted sharply, per data from Inside Airbnb, while long-term rentals shot up 50%.
See the full article here.
Dataset
| <30 nights | >30 nights | |
|---|---|---|
| Jan-23 | 23000 | 22000 |
| Feb-23 | 22000 | 22000 |
| Mar-23 | 23000 | 23000 |
| Apr-23 | 23000 | 23000 |
| May-23 | 23000 | 23000 |
| Jun-23 | 22000 | 24000 |
| Jul-23 | 22000 | 24000 |
| Aug-23 | 21000 | 26000 |
| Sep-23 | 8000 | 38000 |
| Oct-23 | 2000 | 39000 |
| Nov-23 | 3000 | 38000 |
| Dec-23 | 3000 | 36000 |
| Jan-24 | 3000 | 35000 |
| Feb-24 | 3000 | 34000 |
| Mar-24 | 3000 | 34000 |
| Apr-24 | 4000 | 32000 |
| May-24 | 4000 | 32000 |
| Jun-24 | 4000 | 31000 |
| Jul-24 | 4000 | 31000 |
| Figures rounded. |
