Airbnb Sues New York City Over Restrictions

Closing Bell

And airbnb filed a lawsuit against New York City claiming that new restrictions wouldn't diminish the availability of short term rentals in the city. The company claims the 2022 ordinance which is set to be enforced next month would significantly reduce the availability of local short term rentals. The rule requires property owners to register with the mayor's office and disclose information about other residents in the property and they also have to comply with zoning construction and maintenance regulations. A spokesperson for Eric Adams said City Hall will review the lawsuit.