The Conundrum With Short-Term Rentals In NYC

Law360, New York (February 6, 2017, 2:35 PM EST) -- The internet has caused major disruption in New York's hospitality business. Apartment vacation rental websites such as Airbnb, HomeAway, VBRO and Roomorama now offer consumers attractive alternatives to traditional hotel rooms. And they are on a significant rise in densely populated and expensive metropolitan cities with a high volume of tourists such as New York City. Although these services offer travelers a cost-effective alternative to traditional hotels and provide owners and lessees with opportunities to make extra money, in New York City, most of these rentals are actually illegal. In this article, we explore what New York City landlords and tenants...

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