Fact or Fiction: Can You Host Short-Term Rentals in NYC in 2024?

Did NYC Ban Airbnb? Key Takeaways of the City’s Policy

• New York City essentially banned short-term rentals in September 2023, with some exceptions. In a nutshell, NYC’s Airbnb policy now requires properties to be registered and licensed for short-term renting.
• Class B buildings, designed for transient use and known as single-room occupancies (SROs), can be legally rented for less than 30 days.
• NYC’s Airbnb regulations aim to ensure that short-term rentals do not negatively impact the availability of long-term housing and maintain community standards.

Listen to Our Episode Covering NYC’s Airbnb Policy

Today’s expert guests, James and Laureta, are Superhosts with nine years of multimarket hosting experience. They started their short-term rental journey by renting out a bedroom in the apartment Laureta was living at the time – in Brooklyn – and together, they soon discovered their love of restoring historic buildings and dynamic properties.

Of course, we ask Laureta about that first risky listing – two rooms in her own apartment in the early days of Airbnb – about launching and scaling their hosting business, and more, but the crux of our conversation falls on the harsh reality of New York City’s newly implemented STR ban. 

Now, is it a total ban? No. James and Laureta still operate their listings as short-term rentals in New York City. It can be done, but you have to know your stuff (and be in the right building) to make it happen. James and Laureta show us the way.

Tune in to get the skinny on hosting in the city, pre- and post- regulations, and how these two brilliant entrepreneurs have leveraged their ability to think ahead of the game on their way to building a short-term empire down the east coast.

Episode Timestamps

(00:01:29) #STRShareSunday: @hyggesonoma

• Dedicating social media real estate to their scenic views
• Highlighting a local “best of” list
• Up-front and honest about live-action farming

(00:06:00) Getting Into the New York (Hosting) State of Mind

• Laureta’s desperation move to Airbnb in 2015
• Bringing James into the operation in 2017
• Airbnb Profile: About James And Laureta
• Hosting two rooms in her own apartment
• Securing a second STR listing in Hell’s Kitchen
• Quick road to profitability  

(00:15:57) Reimagining an Abandoned Bed-Stuy Space

• Researching the use of SROs (single room occupancy) 
• Securing registration as a hotel with the city 
• Predicting the future of increased regulation in the city 
• Expanding with a great team and partners 

(00:24:43) The Community of Hosts & Hosting in NYC

• Hosting community pre- and post-regulations
• How they handled the new STR ban  
• How the city helped facilitate questions 
• Laureta and James share their top cleaning tip

(00:29:21) Is This the End of Short-Term Rentals in New York?

• How other hosts in the city pivoted their strategies 
• The emergence of the Airbnb speakeasy 
• Benefits of the change – increased rates!

(00:32:19) Team Structure & Future Plans

• James shares his upcoming retirement date
• Leaning on a support team of contractors 
• Difficulty letting go of the hospitality side of things 
• Developing a new project on Seneca Lake
• Remote managing their  properties 

(00:40:59) NYC Housing Crisis vs. STR Regulations

• Laureta and James comment on the housing landscape
• The inevitability of regulation on disruption 
• Flexibility and risk of Class B properties in New York  
• Any hope to bring widespread STRs back to the city?
• Know your stuff at rentresponsibly.org

Download a transcript of this episode.

Resources:

• Visit thanksforvisiting.com/workshop to watch our Hosting Business Mastery Method workshop!
• Airbnb Essentials Checklist: hostchecklist.com
• Instagram: @jamesandlaureta
• Airbnb Profile: About James And Laureta

#STRShareSunday

@hyggesonoma

Check out this Danish culture inspired warm and cozy small cabin with tons of natural light located right next to a vineyard. This beautiful two bedroom home is located in Sonoma, providing a little slice of heaven with a Scandinavian-modern design aesthetic. Surrounded by rows of vineyards and vines, enjoy a beautiful and peaceful slice of heaven at this pristine STR, hosted by Superhost, Hygge Haus.

• Instagram: @hyggesonoma
• Airbnb: Modern Farmhouse on Vineyard w Deck + Bocce Court

We would love to feature YOU, so don’t forget to use #STRShareSunday to get your chance!