A New York City Airbnb has nearly $1M in fines. It hasn't paid any of them, new Bloomberg report says
A New York City home has accumulated nearly $1 million in fines over its illegal use as an Airbnb for years. It's just one of thousands like it.
According to Bloomberg, it racked up more fines than nearly any other Airbnb in the city in 2021, and defaulted on more than $984,000 in penalties. The homeowner still hasn't paid those fines, Bloomberg reported. Under a new law that goes into effect this spring, short-term rental hosts will have to register with the city, and Airbnb and companies like it won't be allowed to collect booking fees on unregistered properties, Bloomberg reported.
But the city argues that short-term rentals deplete housing stock and push up costs for residents, according to Bloomberg.
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