It's not uncommon to visit tourist-magnet cities and see entire buildings with only a few lights on, as many units are owned by the wealthy and left empty, as rents are not as important as having a safe place to "park surplus capital." Thousands of other units have been pulled from the long-term rental market to reap the higher returns of STVRs [short term vacation rentals].
In NYC, another sign of STVR buildings are lockboxes chained to metal railings outside.
Starting tomorrow (September 5) such rentals are supposed to follow very strict new rules introduced by the Adams administration including hosts required to live in the same unit and reservation caps of no more than 2 people. Whole apartment rentals are banned unless the term is longer than 30 days.
In NYC, another sign of STVR buildings are lockboxes chained to metal railings outside.
Starting tomorrow (September 5) such rentals are supposed to follow very strict new rules introduced by the Adams administration including hosts required to live in the same unit and reservation caps of no more than 2 people. Whole apartment rentals are banned unless the term is longer than 30 days.
https://www.thecity.nyc/2023/8/15/23832212/how-new-airbnb-re...