Airbnb: Boon Or Bane For NYC Residential Real Estate?
Law360, New York (April 23, 2015, 10:47 AM EDT) -- One of the "hot" topics in New York City residential real estate that increasingly dominates the discussions of both lawyers and laypeople is the popular website known as "Airbnb." For the uninitiated, Airbnb.com seeks to provide tourists with an alternative to traditional hotels by allowing "hosts" of residential real estate (i.e. owners or tenants in physical possession) to list their residences for short-term rental. Instead of staying in cookie-cutter hotel rooms owned by large corporations, Airbnb invites tourists to "find hosts with extra rooms, entire homes, and unique accommodations" so that they "feel at home, anywhere [they] go in the world" while "discover[ing] amazing places." Airbnb.com provides a platform for travelers to "connect with hosts, confirm travel dates, and pay" for their accommodations....
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