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In
a blog post, Airbnb said Local Law LL18, which states hosts must
be permanent occupants of the units being rented and must
register with the city before posting rentals, has "failed to
combat the housing crisis".
After the implementation of the law, the number of Airbnb
listings allowing stays under 30 nights has fallen 83%,
according to an August report by data analytics firm Airdna.
Airbnb, citing data from Apartment List, said vacancy rates for
apartments in New York City have remained virtually unchanged at
3.4% since the law took effect.
The company also said the cost of travel has increased. Hotel
rates in New York City were up 7.4% year-over-year in July,
compared with 2.1% across the U.S., according to data from
Co-Star, Airbnb said.
"By rolling back parts of the law, the city can increase the
supply of accommodations for consumers, support resident hosts
and revitalize local businesses that depend on tourism dollars,"
Airbnb added.
The New York City mayor's office and the Office of Special
Enforcement were not immediately available for comment.
Last year, a New York judge dismissed the company's lawsuit
against New York City over the local law.
(Reporting by Aishwarya Jain in Bengaluru; Editing by Krishna
Chandra Eluri)
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