Research has long found links between short-term rentals and housing cost increases.
This week, the Pratt Center for Community Development released a new report entitled “NYC’s Short-Term Rental Law Benefits Homeowners over Investors,” confirming that Local Law 18 benefits legal short-term rental hosts while stopping illegal operators and investors from taking our housing.
“The city’s Short-Term Rental Registration Law (Local Law 18 of 2022),” the report states, “primarily benefits homeowners in low- and moderate-income areas while helping to protect long-term housing and residents from persistent investor speculation.”
Pratt recommends maintain the existing Short-Term Rental Registration Law, among other recommendations, which you can read at the link below:
“NYC’s Short-Term Rental Law Benefits Homeowners over Investors”