New Report Shows Illegal Airbnb Rentals Overtaking NYC Housing Market

A report by MFY Legal Services an Housing Conservation Coordinators shows that Airbnb rentals are having a disastrous impact on NYC’s housing market and significantly contributing to the decrease in affordable units, especially in Manhattan and Brooklyn.  More than half of Airbnb’s lists are illegal under city housing law, and 30% of listings are controlled by illegal “commercial” hosts, in effect removing some 8,000 apartments from the rental market at a time of a severe shortage of affordable units. Read report here.