Airbnb Faces Crucial Hearing
The debate over the apartment-sharing platform Airbnb moves into the high profile arena of New York's City Hall today, with Comptroller Scott Stringer (above) and Attorney General Eric Schneiderman leading the chorus of critics of the popular site.
Stinger yesterday wrote in a Daily News op-ed that "this growing trend [of short-term rentals] poses concerns for the City of New York—in particular, for our affordable housing stock and public safety." He specifically objected to a report from the AG claiming that 2,000 city apartments were being used at least six months of the year for short-term rental income Airbnb generated.
That report also argued that 75% of NYC apartments were illegally listed by commercial operators on the service. Airbnb rebutted that claim, saying that 87% of hosts are residents who sporadically rent out their apartments as a means to supplement income and pay the long-term rent. The Hotel Trades Council backed Stringer's run for office.
