@@m.r.d.9406why should new yorkers care about how much tourists need to spend in hotels? They should care that day by day random strangers without a detailed background check are living next door. Also, Airbnbs are making the already existing shortage of houses worst, Airbnbs are more profitable than actually renting the house for years.
@@JK-tq7bi maybe you're unaware, but AirBnB's are predominantly short-term rentals utilized by tourists. This legislation is an attack on the small business owner trying to make a little money on the side investing in a property they can rent out like a hotel without having to invest in a large building and compete with hotel owners with much much deeper pockets. Also, you mean worse* not worst.
you know this is NYC right ? Its much cheaper comparing to hotel. So you can be happy living in a hotel which is much more expensive and much smaller than airbnb. And the biggest and almost only reason why people choose airbnb is its much cheaper than hotel for the same room's condition. Congratulation, idiot.
@@NoTraceOfSense Airbnbs are great for large families and midterm travelers. You get a large house for rent, at a hotel price. Airbnbs also allow guest to cook.
AIRBNB is nothing more than a credit card clearing house. Does not verify or inspect properties or validate ownership. Dispute resolutions are left entirely in the hands of owner/lessor. Disgruntled AIRBNB clients should file a complaint with AIRBNB, simultaneously submitting grievance to your credit card issuer
Residential housing should be kept for housing people long term. We have zoning laws for a reason. When you turn residential property into commercial enterprises, you unbalance housing market and you have ridiculously high rents since you have a shortage of housing. This imbalance has repercussions in our society and you are seeing more homeless and crime. Desperate people trying to pay ridiculously high rent by robbing stores, homes and people. This Airbnb restriction is a good first step. We must go further and restore the residential housing market and restore balance to our society.
@@c87kim whether or not the original commenter owns property has nothing to do with what they were talking about. Like they said, residential housing is not meant for commercial use. Get a commercial property if that's what you want to use it for.
Finally hotels will lose competition and politicians can claim they did something to fix the housing market without doing anything about the nimby bureaucracy that created the housing crisis.
I have been hurt by Airbnb and had to rent and pay high rent for 6 years I am FOR this it’s not fair. Also I refuse to use its services anywhere ever. Airbnb is the worst thing that ever happened to my community
It’s starting to look more and more like socialism, this is going to backfire big time, hotels are packed with illegals and no airbnb , where are the tourists going to stay.
I’ve tried ABNB and it was ok. Still had to keep it ultra clean otherwise a fee would be added in top of cleaning fee. Personally, I love hotels because when you get back the towels are fresh and the bed is made. That is a vacation in itself from the daily grind.
Hotels needs to keep up, cuz the only good thing about airbnb is that it’s good for families with small kids: kitchen, separate rooms (think…kid naps and going to bed early), washer/dryer. I hate airbnb but we always get it cuz there’s no hotel option good for families with small kids.
@@shakenbacon-vm4eu seriously? My friend I was genuinely curious, the upside u said is it’s good for kids, I just was curious abt the down sides u would list of staying in one. Nvm.
@@notyourtypicalcomment2399 It's literally in the video, people purposely rent out a condo for 3000-3500 and put them on airbnb for 250-300 per day which means they can make good profits but because of that average households will struggle to pay more rent but airbnb flippers don't mind paying more which contributed to rent price going x2 last 5 year. Travel is a choice but housing for it's own citizen is necessary and should be the priority.
@@MrSupernova111 If there is such a tourist saturation in your scenario that rent doubles, can't i also make money from airbnb and maybe benefitfrom all the spending and growth that would spawn.
That’s the issue in the first place, they’re trying to fix the problems they create by creating more problems. Let the market do it’s job. It’s all self inflicted. Same thing here in california.
@@willberry6434 Skyrocketing? No, this ban is a bandaid that appeals to the masses. It is easier than dealing with the nimby bureaucracy that has limited development for decades. NY even has a small amount of single family zoning, but more on the rest of the metropolitan area. That's why people leave NY and Cal.
I'm happy this has passed and it should be like this in months markets with a housing shortage over a certain threshold. But I am wondering what this will mean for hotel prices. I'm not sure hotel chains will follow with new capacities over the next 3 years.
You can't force people to do long term rental. The rent comtrol laws and regulations are crazy in new york. So, landlords are rather doing airbnbs than long term rental. The scale of cracking down will doom it to a De Facto failure. Landlords will find other ways to get around it.
That's all true. But if landlords continue to skirt city laws re. Airbnb, then ultimately New York City might just do what some European cities have done, and outright ban Airbnb type temporary rentals in New York all together, levying hefty fines on violators.
People will get evicted if the building does not allow Airbnb rentals. If you think the private equity companies want tenants who rent apartments only to turn around and list the places on Airbnb so that the tenant can make MORE money than private equity owner can on an apartment in a city with a housing shortage, you are smoking unregulated substances.
Per my experiences, 50% of airbnb owners doing Airbnbs since it's more flexible. You can any time have the place back, while you are stuck with a tenant in any long term rental. The De Facto ban will still not push those home owners go for long term since economy isn't their top concern. Most NY housing is negative cash flow to home owners any way. $3000 further negative flow will not be the reason for the owner to put those back to long term rental. Rent control was is a de facto failure and str ban will be. The true cause of housing shortage is landlords are afraid of tenants and rent control. STR is better than negative cash flow. However, taking away str will push them to leave units vacant. If i were a nyc landlord, i would go vacant or STR if i can afford the mortgage. And I don't own anything in nyc
Good, but at the same time, NYC should lower hotel rates. AirBnB make billions, you rent $1, 600 , Airbnb gets $400. Airbnb renters is a secondary business. A renter does not need the money. They are just taking advantage of a trend that existed for ages, the negative about Airbnb is that renter are installing **Hidden Cameras** to record a private moment you are having with your partner.
This is so stupid. AirBnB provides a great service for those looking to live in NYC to work seasonally without leasing a space or paying for an extended stay hotel. This reduces options and competition for many who are looking for flexible housing. The govt has no business doing this.
@@MisfitsFiendClub138 the problem with New York real estate is that New York is a highly desirable market that’s already heavily developed. Housing is going to be expensive. AirBnb is just the tip of the iceberg. This law artificially brings more supply into the market but it’s temporary. Now there is another market with low supply(the Airbnb market). They will need to figure out a more permanent solution most likely lowering regulations that prohibit more property development.
@@MrSupernova111 my brother travels for months at a time for a job. Not everyone has the luxury to live in the same place for a whole year. Broaden your imagination. There are also traveling nurses that travel from assignment to assignment every few weeks. They need a place to live to.
NYC seems to have a difficult time understanding that it’s a new world. Hotels in the heart of the city were closed due to the pandemic. (Including the one where I used to work.) Personally, I prefer air bnb to a hotel in NYC. Hotels in Vegas, that’s different. NYC wants to be what it was pre- pandemic. Due to the migrant influx, The mayor wants wants to cut police force, the transportation system has antiquated signals plus service sucks. Migrants sleeping in midtown Manhattan streets. Whatever. New York City will never, ever lower rent. In fact, they want to raise it as high as they possibly can. I’m ready to move outta this dump. I love New York, but as a NY Native, I can safely say that it’s allure has diminished and has become a place geared towards the super wealthy. Visit NYC, but now you’re forced to stay where they want/ need you to stay.
I agree. You don't get to live in a good neighborhood with good public transportation and safe environment unless you're one of the riches. All of the people I know have to keep raising their rental budgets every year just to stay in their own apartments. Those who have fixed budget keeps getting driven further and further from the center. Two people I know moved from UES/UWS to Greenpoint/Astoria, and now to Richmond and Woodside.
There's a housing shortage where you want to live and work, but not if you're willing to drive outside of your "comfort zone". This is just big government, bullying, homeowners and landlords. When they are the ones that are responsible for the infrastructure to build affordable housing. Build another project...and let me get the most from my investment
I think we'll need to wait fo the next ABNB earnings report to see whether earnings decline. If so, that will hit the stock. Currently ABNB is flying high on its recent admission to the S&P 500.
AIRBNB MODEL MANAGEMENT NYC Section 8Portfolio voucher system models shelter housing authority Booker agent case officer worker Direct booking scout placement service
It's about time somebody is doing something about tourist coming into cities and committing crimes with a safe haven to go back to. It's gotten out of control. If you need to go on vacation with 15 to 20 people you must be insecure in life. It does hurt tourism and small business because these people are lounging in your neighborhoods causing havoc!
This makes NYC better more homes available for new Yorkers. Why hoard so many houses for people who don't even live there , All the Airbnb, Just makes it more supply and demand in the city which means rents more expensive
This is makes no sense. Less housing competition equals more availability which equals less competition which means lwer prices. Housing is not ATT vs Verizon.
That's a lie, considering New York City alone has over 90k Rent stabilized Apartments. New York has also a huge realty market, which again by your logic should drive the prices down, which is false, and it didn't.
Rent prices will drop because availability will go up. Too many people taking up apartments and charging them like hotels so the comps see high money and keep the market high
I’m happy for this news. I checked the Airbnb prices in nyc, and the minimum is over $120. The average looks about $250. This is ridiculous, insane!
What are hotel room rentals going for in the same 5-10 block area?
@@m.r.d.9406 . Who cares!
@@m.r.d.9406why should new yorkers care about how much tourists need to spend in hotels? They should care that day by day random strangers without a detailed background check are living next door. Also, Airbnbs are making the already existing shortage of houses worst, Airbnbs are more profitable than actually renting the house for years.
@@JK-tq7bi maybe you're unaware, but AirBnB's are predominantly short-term rentals utilized by tourists. This legislation is an attack on the small business owner trying to make a little money on the side investing in a property they can rent out like a hotel without having to invest in a large building and compete with hotel owners with much much deeper pockets. Also, you mean worse* not worst.
you know this is NYC right ? Its much cheaper comparing to hotel. So you can be happy living in a hotel which is much more expensive and much smaller than airbnb.
And the biggest and almost only reason why people choose airbnb is its much cheaper than hotel for the same room's condition.
Congratulation, idiot.
These rules are not difficult to enforce. Neighbors will report. Once owner receives couple thousands of dollars of fines it will be over.
Why would neighbors report? Has it been an annoyance for locals?
Ban airbnb!!!
Dang straight skippy.
Special interests and lobbyists for the win!
Exactly, Hotels will become a monopoly once again. Congratulations NYC 😒
That’s exactly what I was thinking. It’s really bad policy
I was just about to say the same thing.
And an AirBnB is better than a hotel… how?
@@NoTraceOfSense Airbnbs are great for large families and midterm travelers. You get a large house for rent, at a hotel price. Airbnbs also allow guest to cook.
AIRBNB is nothing more than a credit card clearing house. Does not verify or inspect properties or validate ownership. Dispute resolutions are left entirely in the hands of owner/lessor.
Disgruntled AIRBNB clients should file a complaint with AIRBNB, simultaneously submitting grievance to your credit card issuer
Residential housing should be kept for housing people long term. We have zoning laws for a reason. When you turn residential property into commercial enterprises, you unbalance housing market and you have ridiculously high rents since you have a shortage of housing. This imbalance has repercussions in our society and you are seeing more homeless and crime. Desperate people trying to pay ridiculously high rent by robbing stores, homes and people. This Airbnb restriction is a good first step. We must go further and restore the residential housing market and restore balance to our society.
You own any property?
@@c87kim tf does that have to do with anything
@@kettles827 depending on the answer, either not very much, or a lot
@@c87kim whether or not the original commenter owns property has nothing to do with what they were talking about. Like they said, residential housing is not meant for commercial use. Get a commercial property if that's what you want to use it for.
@@kettles827 do you own any property?
Hate Airbnb! It’s driven rentals in my area crazy (and I’m in France) locals can’t even live in their own city anymore
Great that NY is enforcing this. Finally!
Finally hotels will lose competition and politicians can claim they did something to fix the housing market without doing anything about the nimby bureaucracy that created the housing crisis.
AIRBNB causes HOMELESSNESS‼️‼️‼️
Indeed
Drugs, and bad decisions cause homelessness.
I have been hurt by Airbnb and had to rent and pay high rent for 6 years I am FOR this it’s not fair. Also I refuse to use its services anywhere ever. Airbnb is the worst thing that ever happened to my community
Airbnb is awful. Vacation in Hawaii had nothing, but problems with AIRBNB rentals. Never again
Sounds like something someone who doesn’t own property would say.
@@LonghairedJizzExpert So do side hustle airbnb to work harder then to pay for a higher cost of house and property tax? LOL. comical.
It’s starting to look more and more like socialism, this is going to backfire big time, hotels are packed with illegals and no airbnb , where are the tourists going to stay.
So people like me who has 39 listings hurt you ? Look like i give a F ? :))
Btw my listings are in San Diego, and its legal :))
I’ve tried ABNB and it was ok. Still had to keep it ultra clean otherwise a fee would be added in top of cleaning fee. Personally, I love hotels because when you get back the towels are fresh and the bed is made. That is a vacation in itself from the daily grind.
AirBNB cancelled the reservation I booked in July for a stay in NY in December.
Hotels needs to keep up, cuz the only good thing about airbnb is that it’s good for families with small kids: kitchen, separate rooms (think…kid naps and going to bed early), washer/dryer. I hate airbnb but we always get it cuz there’s no hotel option good for families with small kids.
Why do u hate airbnbs?
@@notyourtypicalcomment2399 seriously?
You sounds like a landlord.
@@shakenbacon-vm4eu seriously? My friend I was genuinely curious, the upside u said is it’s good for kids, I just was curious abt the down sides u would list of staying in one. Nvm.
You don't need to travel. Stay home if you can't afford to travel or don't like hotels.
@@notyourtypicalcomment2399 It's literally in the video, people purposely rent out a condo for 3000-3500 and put them on airbnb for 250-300 per day which means they can make good profits but because of that average households will struggle to pay more rent but airbnb flippers don't mind paying more which contributed to rent price going x2 last 5 year. Travel is a choice but housing for it's own citizen is necessary and should be the priority.
Good! Get all the greedy vultures out of the housing market!!
How dare they supply demand.
@@jonatand2045 . Moron. Blocked.
You’d have to ban China from owning USA property for that to happen. They already don’t allow Americans to own any property in China.
Goood!!!!! More house for others!!!
What what makes "others" better than the people who rented through Airbnb?
@@AlexFeldmanothers that actually live here I suppose if your visiting go stay in a hotel. Apts aren't hotels.
@@bohammondlee7472 have you considered that hotels are preventing people from "living" there even more so?
PUT THEM OUT OF BUSINESS THEY ARE DANGEROUS AND NOT INSURED
Maybe people can actually buy them to live in
😂
Travel isn't a life necessity. A home to live in is a necessity. Don't like hotels? Can't afford hotels? TOUGH!!
Spoken like a true statist.
@@jonatand2045 . I hope your rent is doubled due to tourism. Let's see how you feel about it then.
@@MrSupernova111 If there is such a tourist saturation in your scenario that rent doubles, can't i also make money from airbnb and maybe benefitfrom all the spending and growth that would spawn.
Airbnb completely blocked me for a problem with a Renter smh
Airbnb is an awful company for both hosts and guests
If I own my property I should be allowed to rent a room, my garage, or my entire house if I want.
🎯. Losers and haters gonna hate tho
People ought to be able to do what they want with their own property. And NYC has way too many laws as it is.
Good.
these are the same people who banned evicting people who did not pay their rent for years. they dont see it as your property.
There aren't enough long-term rentals or homes to buy. Air B&Bs take too many properties off the market.
Cancel em.
That’s the issue in the first place, they’re trying to fix the problems they create by creating more problems. Let the market do it’s job. It’s all self inflicted. Same thing here in california.
Outlaw Airbnb.
Just like hotel chains want.
@@jonatand2045 at least hotels aren’t skyrocketing the price of rental units
@@willberry6434 Skyrocketing? No, this ban is a bandaid that appeals to the masses. It is easier than dealing with the nimby bureaucracy that has limited development for decades. NY even has a small amount of single family zoning, but more on the rest of the metropolitan area. That's why people leave NY and Cal.
Justice is sweet
Good, this should become national… Air BnB has contributed to the housing crisis in this country.
Sounds good to me,cancel em.
This is kind of irrelevant. Airbnb's in NY were already in hot water long before this law went into effect...
I'm happy this has passed and it should be like this in months markets with a housing shortage over a certain threshold.
But I am wondering what this will mean for hotel prices. I'm not sure hotel chains will follow with new capacities over the next 3 years.
You can't force people to do long term rental. The rent comtrol laws and regulations are crazy in new york. So, landlords are rather doing airbnbs than long term rental. The scale of cracking down will doom it to a De Facto failure. Landlords will find other ways to get around it.
This is what happens when you have an housing issue. People can buy up the available stock for airbnb
That's all true. But if landlords continue to skirt city laws re. Airbnb, then ultimately New York City might just do what some European cities have done, and outright ban Airbnb type temporary rentals in New York all together, levying hefty fines on violators.
People will get evicted if the building does not allow Airbnb rentals. If you think the private equity companies want tenants who rent apartments only to turn around and list the places on Airbnb so that the tenant can make MORE money than private equity owner can on an apartment in a city with a housing shortage, you are smoking unregulated substances.
Per my experiences, 50% of airbnb owners doing Airbnbs since it's more flexible. You can any time have the place back, while you are stuck with a tenant in any long term rental. The De Facto ban will still not push those home owners go for long term since economy isn't their top concern. Most NY housing is negative cash flow to home owners any way. $3000 further negative flow will not be the reason for the owner to put those back to long term rental. Rent control was is a de facto failure and str ban will be. The true cause of housing shortage is landlords are afraid of tenants and rent control. STR is better than negative cash flow. However, taking away str will push them to leave units vacant. If i were a nyc landlord, i would go vacant or STR if i can afford the mortgage. And I don't own anything in nyc
Unless the city taxes vacant houses with vacancy taxes...
LA/OC next!!
So glad I moved from there
Good, but at the same time, NYC should lower hotel rates. AirBnB make billions, you rent $1, 600 , Airbnb gets $400. Airbnb renters is a secondary business. A renter does not need the money. They are just taking advantage of a trend that existed for ages, the negative about Airbnb is that renter are installing **Hidden Cameras** to record a private moment you are having with your partner.
You're the hater of the year lol
@@genero44wonder if them lobbyist also hooked up with some bots. To sway public opinion.
The city can't control how much a hotel charges somebody
no ones installing hidden cameras. Probably more hidden camereas in hotels.
This is so stupid. AirBnB provides a great service for those looking to live in NYC to work seasonally without leasing a space or paying for an extended stay hotel. This reduces options and competition for many who are looking for flexible housing. The govt has no business doing this.
If Airbnb rentals weren't a problem this wouldn't even be a problem. They are a problem. The City did the right thing
@@MisfitsFiendClub138 the problem with New York real estate is that New York is a highly desirable market that’s already heavily developed. Housing is going to be expensive. AirBnb is just the tip of the iceberg. This law artificially brings more supply into the market but it’s temporary. Now there is another market with low supply(the Airbnb market). They will need to figure out a more permanent solution most likely lowering regulations that prohibit more property development.
Your logic is backwards. People need homes to live in. You don't need to travel.
@@MrSupernova111 my brother travels for months at a time for a job. Not everyone has the luxury to live in the same place for a whole year. Broaden your imagination. There are also traveling nurses that travel from assignment to assignment every few weeks. They need a place to live to.
Do you also complain about restaurants driving up food prices because you don't "need" to eat out? @@MrSupernova111
good, now people can afford rent
Newyok!
This is good. People need to decide if they want to be in the Airbnb business or the hotel/rooming house business. Not some hybrid scenario.
NYC seems to have a difficult time understanding that it’s a new world. Hotels in the heart of the city were closed due to the pandemic. (Including the one where I used to work.) Personally, I prefer air bnb to a hotel in NYC. Hotels in Vegas, that’s different. NYC wants to be what it was pre- pandemic. Due to the migrant influx, The mayor wants wants to cut police force, the transportation system has antiquated signals plus service sucks. Migrants sleeping in midtown Manhattan streets. Whatever. New York City will never, ever lower rent. In fact, they want to raise it as high as they possibly can. I’m ready to move outta this dump. I love New York, but as a NY Native, I can safely say that it’s allure has diminished and has become a place geared towards the super wealthy. Visit NYC, but now you’re forced to stay where they want/ need you to stay.
AirBNB existed before the plandemic. It was created due to high hotel rental costs.
I agree. You don't get to live in a good neighborhood with good public transportation and safe environment unless you're one of the riches. All of the people I know have to keep raising their rental budgets every year just to stay in their own apartments. Those who have fixed budget keeps getting driven further and further from the center. Two people I know moved from UES/UWS to Greenpoint/Astoria, and now to Richmond and Woodside.
what do you expect with NYC, worst area..
Someone just take this to court and get this struck down
We wish them well - my friend Tim D
There's a housing shortage where you want to live and work, but not if you're willing to drive outside of your "comfort zone". This is just big government, bullying, homeowners and landlords. When they are the ones that are responsible for the infrastructure to build affordable housing. Build another project...and let me get the most from my investment
Robert Frank looks like he ate Tom Ford, but stayed straight afterwards
How do you know Robert is straight?
🎉🎉🎉🎉 yes get it out the city !
This is crazy!!!
Hotel will be back up
FINALLY. Now make this change nationwide.
who is government to tell someone how to use their spare bedroom?
Home values are declining, nationally.
Not in the bay area sky high x 3
Good, i wasn't planning on visiting NYC. Now, no one else will either. Let the doom loop continue.
❤
Not sure about The Big Decline , ABNB stock went up + 7.23 % . One day , Today !
I think we'll need to wait fo the next ABNB earnings report to see whether earnings decline. If so, that will hit the stock. Currently ABNB is flying high on its recent admission to the S&P 500.
Talk about a case study in awful journalism. Wow.
New york sucks anyway
Anything to block innovation
Are renting out toilets too, never gonna be out of business.
Just enough housing for the migrants
AIRBNB MODEL MANAGEMENT NYC
Section 8Portfolio voucher system models shelter housing authority
Booker agent case officer worker
Direct booking scout placement service
It's about time somebody is doing something about tourist coming into cities and committing crimes with a safe haven to go back to. It's gotten out of control. If you need to go on vacation with 15 to 20 people you must be insecure in life. It does hurt tourism and small business because these people are lounging in your neighborhoods causing havoc!
Nyc lost its way from capitalism. It’s a woke city with less freedom every day.
Dallas has the same regulations
@@jessinicole7998 yep. Dallas is democrat .
Good luck enforcing it.
It'll be quite easy with your neighbors ratting you out for the parties your tenants are throwing
NYC just keeps getting worse
This makes NYC better more homes available for new Yorkers.
Why hoard so many houses for people who don't even live there ,
All the Airbnb, Just makes it more supply and demand in the city which means rents more expensive
Rent prices will go even higher because there will be less competition.
This is makes no sense. Less housing competition equals more availability which equals less competition which means lwer prices. Housing is not ATT vs Verizon.
That's a lie, considering New York City alone has over 90k Rent stabilized Apartments. New York has also a huge realty market, which again by your logic should drive the prices down, which is false, and it didn't.
Rent prices will drop because availability will go up. Too many people taking up apartments and charging them like hotels so the comps see high money and keep the market high
@@jhause9404 The solution is to allow Developers to build more.
Bro time to sell your AirBNB lol. Cut your losses.