June 13, 2016
EXCLUSIVE: N.Y. politicians make progress on bill banning illegal short-term rental ads on Airbnb “A bill that would bar the advertising of illegal short-term rentals on platforms like Airbnb is gaining steam in the last week of the legislative session. Sen. Andrew Lanza (R-Staten Island) and Assemblywoman Linda Rosenthal (D-Manhattan) have agreed on language for a joint bill they hope can move before lawmakers end the legislative session on Thursday. The bill would prohibit the advertising of home sharing in multi-family units in New York City for less than 30 days and carry fines of up to $7,500 for multiple violations. The first-in-the-nation legislation has managed to unify both housing activists and developers.” (New York Daily News)….
Source: http://nreionline.com/nrei-wire/10-must-reads-cre-industry-today-june-13-2016