AAHOA, the Asian American Hotel Owners Association, the largest hotel owners association in the nation representing 20,000 hoteliers, commended the New York City government for launching new regulations this week that enable oversight of short-term rentals.
The new regulations require hosts to register with the city to rent their homes on a short-term basis of fewer than 30 days. Platforms such as Airbnb, Vrbo, Booking.com, and more must verify that a host’s registration application has been approved to be able to collect fees. These platforms can face fines of up to $1,500 per transaction if a rental listing is not registered, while hosts risk up to $5,000 in fines.
AAHOA has long advocated for stronger oversight of short-term rentals in localities across the nation, including in Arkansas earlier this year where legislation that would have prevented local governments from enacting reasonable regulations was defeated in the state legislature following advocacy by AAHOA Members.
“We truly applaud the New York City government for stepping up and taking necessary action that will cut down on the tens of thousands of unregistered short-term rentals by holding both the hosts and the platforms accountable, which will create better experiences for all guests and residents alike,” said AAHOA President & CEO Laura Lee Blake. “Given that AAHOA hotelier members in the state of New York annually contribute $6.6 billion in total taxes, and nearly $7 million alone in lodging taxes, we commend the initial penalty structure; however, to ensure compliance at the highest levels, even stricter daily penalties might be warranted to level the playing field for those hosts posting unauthorized or illegal listings, and especially the platforms that are making untold millions off these unregistered listings.”
“Until now, online short-term vacation rental platforms have effectively been allowed to operate lodging businesses without having to pay the same taxes and adhere to the same regulations as hotels in New York City. This week’s action means that small business hotel owners can now compete on a more level playing field,” said AAHOA Chairman Bharat Patel. “We commend the New York City government for setting the standard for one of the most-visited places in the United States, and encourage other localities to establish proper oversight of short-term rentals.”