New regulations on short-term rentals took effect in New York City to effectively end renting out apartments by the week or night for tourist stays or others visiting the city for short periods. Under the new rules, rentals shorter than 30 days are only allowed if hosts register with the city and commit to being physically present in the home for the duration of the rental and share living quarters with their guests. Platforms like Airbnb are not allowed to process rentals for unregistered hosts. As of early this week, very few hosts had successfully registered with just under 300 approvals out of over 3,800 applications. Airbnb had to stop accepting some reservations in NYC after the new rules took effect as it can no longer accept listings without a registration number from the city.
