In NYC, Being an Airbnb Host Could Cost You

Do you rent your home out using Airbnb? Thinking of getting in on it to make a little extra cash like your 200+ friends and neighbors? Be sure to take note of this article in the Times. Despite its title, it’s really a warning for hosts, not travelers:

Back in September, Nigel Warren rented out his bedroom in the apartment where he lives for $100 a night on Airbnb, the fast-growing Web site for short-term home and apartment stays. His roommate was cool with it, and his guests behaved themselves during their stay in the East Village building where he is a renter.

But when he returned from a three-night trip to Colorado, he heard from his landlord. Special enforcement officers from the city showed up while he was gone, and the landlord received five violations for running afoul of rules related to illegal transient hotels. Added together, the potential fines looked as if they could reach over $40,000.

Not only can these fines be a concern for hosts, but also for their landlords and co-op/condo boards. The article advocates pretty hard for Airbnb to include a clear warning for big-city hosts. Currently, their terms and conditions informs users that they are responsible for complying with local laws and they explicitly address the issue in their Hosting FAQs.

What do you think?

[poll id=”29″]

Image via New York Times