Saturday, August 1, 2015
AirBnB is gobbling up affordable housing
From the Daily News:
Airbnb is gobbling up a huge chunk of apartments in some of the city’s hottest zip codes — snagging as much as 20% of vacancies in parts of Manhattan and Brooklyn, according to a new study by two affordable housing advocates.
The East Village led the list with a whopping 28% of its units going as illegal hotel rooms on the popular home-sharing site, according to an analysis from New York Communities for Change and Real Affordability For All.
The 20 most popular Airbnb neighborhoods — in Manhattan, Brooklyn and Long Island City, Queens — have lost 10% of their available housing units to Airbnb, according to the study.
Airbnb has maintained that its users are overwhelmingly tenants looking to make a quick buck when out of town, but the study found that the average rental was available for 247 days a year, and rented 109 nights a year.
That number would support criticism that huge numbers of shady landlords were using the website to convert rental units into illegal hotel rooms, exacerbating the city’s housing crisis to make a profit.
It’s illegal to rent out your apartment when you are not home, but you can rent out a room when you are, according to the law.