NYC Council Debates Airbnb Bill Intro 948-A, Potentially Impacting 28% of City's Housing Stock

New York City's housing landscape faces a significant potential shift as the City Council debates Intro 948-A, a bill aimed at loosening current short-term rental regulations. The proposed legislation, which could affect nearly 28% of the city's housing stock, has drawn sharp criticism from various groups, including the Mayor's administration, who warn of "devastating" consequences for housing affordability and neighborhood quality of life. The bill seeks to amend Local Law 18, which currently imposes strict rules on short-term rentals.

Intro 948-A specifically targets one- and two-family homes, proposing to remove the requirement for owners to be present during short-term rentals. This change would allow homeowners to rent out units for up to 30 days without being on-site, a significant rollback of Local Law 18, which went into effect in 2023 and mandated host presence for stays under 30 days. Critics argue this modification would re-legalize commercial short-term rental activity that the previous law aimed to curb.

Concerns about the bill's impact on communities are widespread. One social media user, "Jean," articulated strong opposition, stating, > "It’s only for 1-2 family homes. Owner does NOT need to live there making this a perfect storm for hedge funds, financial groups, etc to buy out, gentrify & raise rents. Absentee landlords can be a nightmare for neighbors." The user further warned that allowing "8 rooms in a 2 fam home can be rented out to a different party every night" would lead to a significant decline in quality of life for residents. Mayor Eric Adams' administration has echoed these concerns, with Christian Klossner, Executive Director of the Mayor’s Office of Special Enforcement, warning that the bill "allows for the potential loss of this entire group of homes to the short-term rental market, which would be devastating."

Airbnb, a strong proponent of the bill, has reportedly spent $10 million funding a super PAC, "Affordable New York," to advocate for these changes. Council Members Mercedes Narcisse, Kevin Riley, and Farah Louis, who sponsored related legislation and received campaign support from the PAC, argue that current restrictions prevent homeowners from earning necessary extra income. Nathan Rotman, Airbnb's director of policy strategy, insists Intro 948 "would not affect the city’s housing supply" and that New York City would still maintain strict short-term rental laws even with the updates.

However, opponents, including unions like 32BJ SEIU and the Hotel & Gaming Trades Council, along with housing advocacy groups, contend that the bill would exacerbate the housing crisis. A report from the Community Service Society of New York (CSS) suggests that the measures would "prioritize real estate profits over the city's commitment to affordable housing," potentially leading to increased rents and displacement, particularly for Black and low-income tenants. The ongoing debate highlights the complex balance between supporting homeowners and preserving affordable housing for New Yorkers.