New York's Airbnb Crackdown Drives Short-Term Rentals Underground

New York's restrictions on Airbnb and other rental platforms are creating an informal black market for short-term rentals.

Hosts are reverting to old methods like Craigslist, Facebook, and word-of-mouth to find guests outside of formal platforms.

Some hosts and tenants rely on rental income, so they'll find ways around the rules despite legal risks.

Officials acknowledge an ongoing black market, but say illegal rentals reduce housing stock during a shortage.

Hosts and guests say informal methods lack protections like reviews and payment systems that platforms provide.