NYC Airbnb Crackdown Drives Short-Term Rentals Underground, Creating Risky Black Market
-
New York City banned most short-term rentals, decimating Airbnb listings. In response, hosts have created an underground "black market" for short-term rentals on alternative platforms.
-
Hosts and renters have turned to services like WhatsApp, Signal, Facebook groups, and Craigslist to connect for now-illegal Airbnb-like rentals. Platforms lack protections and reviews.
-
Airbnb hosts argue the regulation deprives them of income without addressing housing shortages significantly. The result has been chaotic.
-
Shadow rental listings come with risks - renters rely on Venmo payments to unidentified hosts lacking protections. Some use Houfy but it also lacks verification.
-
Airbnb CEO said the company is now focusing on other cities for growth opportunities, calling New York "a cautionary tale."