Daily Regulatory Notes 05/07/2025
Cities address STRs. New York reviews enforcement; Nantucket, MA rejects STR warrant articles. Watch out for this week’s meetings and workshops. READ MORE.
Every day, we bring you a detailed overview of recent news and updates about primary decisions, community feedback, or legislative changes relevant to the short-term rental industry. 📰
New York
Two years after the passage of New York City’s Local Law 18, critics say the regulation has backfired, driving up housing costs without meaningfully increasing availability.
Manhattan’s median rent now tops $4,000 for the first time, while vacancy rates remain stuck at just 3.2 percent. At the same time, short-term rental listings have plunged, leading to record-high hotel prices and a significant drop in tourism revenue for small businesses across the five boroughs.
Nantucket voters on Monday night rejected all four short-term rental warrant articles at the Annual Town Meeting leaving the island without clear zoning rules for STRs and putting the matter in the hands of the courts.
Article 66, a citizen petition to formally allow STRs as an accepted use in the zoning code, earned majority support at 468-321 but fell short of the two-thirds threshold required for passage marking the sixth consecutive defeat for such measures. With no zoning framework in place, the ongoing lawsuit filed by Cathy Ward challenging the town’s decision to allow a neighbor to rent their home more frequently than they occupy it, is now the critical test for STR regulation as the case awaits a decision from Land Court Judge Michael Vhay.
📆 Meetings We're Watching This Week
May 8, 2025
May 9, 2025
May 10, 2025
In case you missed it:
Genelaine Urbano
READ: 05/06/25 Daily Regulatory Notes
⭐ Finding the right compliance documents shouldn't feel like searching for a needle in a haystack - that's why we made STRisker's Document Analysis feature!
STRisker Documents Dashboard
Finding the right compliance documents shouldn’t feel like searching for a needle in a haystack - STRisker’s Documents is built to simplify your life, offering instant access to hundreds of thousands of documents from thousands of cities across the US.
👍 We’d love your feedback.
Which stories hit? Which ones missed?
We're constantly refining Daily Notes to make it even more useful for you.
✉️ Just reply directly to this email. We read and respond to every message!
-Will McClure
🙋 P.S.
Know someone else who should be reading Daily Notes? Feel free to forward this along. We’re opening a few more spots.