🎯 STRisker: Bulletin - New York
Home-Sharing Hopes Rise Again as NYC Considers Easing STR Rules
NYC Reopens Discussion on Short-Term Rental Reform
As New York City barrels toward the end of its legislative year, one issue is grabbing headlines again: short-term rentals. With only a few scheduled meetings left before January 1, lawmakers are taking a fresh look at Intro. 0948, a bill that could reopen doors for small homeowners who want the flexibility to rent out their homes on platforms like Airbnb and Vrbo.
At its core, the bill offers a targeted adjustment to the city’s famously strict short-term rental rules. It would allow hosts in one- and two-family homes to list their spaces for stays under 30 days—even if they aren’t physically present—so long as no more than four adult guests stay at a time. This might sound simple, but it represents a meaningful loosening of Local Law 18, the 2023 regulation that drastically tightened enforcement and sent short-term listings plunging from roughly 22,000 to just over 3,200.
"[Intro 948A] was drafted by NYC homeowners, not corporations, [...] applies exclusively to natural persons in their primary residences and maintains every single prohibition on commercial short-term rentals."
— Homeowners for Financial Empowerment (@HFE_NYC) November 25, 2025
Intro 948A is by homeowners, for homeowners. Cc: @NYCCouncil…
For homeowners, especially those in neighborhoods facing rising property taxes and maintenance costs, the proposed changes feel like a lifeline. Supporters say many residents counted on short-term rental income to stay afloat, and the current rules have made that nearly impossible.
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On the flip side, critics argue that dialing back the rules could undo much of the progress the city made in preventing entire apartments from being turned into de facto hotels. Housing advocates warn that easing restrictions could push rents higher and shrink the supply of long-term housing, especially in areas where affordability is already stretched thin. The Hotel and Gaming Trades Council has been clear in its stance: weakening STR laws risks displacing tenants in favor of tourists.
Airbnb, unsurprisingly, is all-in on the bill. The platform has emphasized that the change would help everyday New Yorkers and particularly benefit Black and brown homeowners who once relied on short-term rentals to supplement their income. Their message paints the bill as a modest correction rather than a sweeping overhaul.
Time is a huge factor here. With Council Member Zohran Mamdani voicing firm opposition, the bill’s supporters know they don’t have the easy path some might hope for. And once the political landscape resets in 2026, there’s no telling whether the next crop of leaders will be more—or less—receptive to STR reform.
As the clock winds down, Intro. 0948 remains one of City Hall’s most closely watched proposals. New Yorkers invested in the future of home-sharing will be keeping a close eye on whether this last-minute push succeeds before the year officially closes.
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