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In a new development, Airbnb has suspended bookings for certain rentals in New York City due to the implementation of stringent short-term rental regulations. These rules aim to curb the practice of landlords and residents renting out their apartments for short stays, which has triggered housing demand spikes and fuelled controversy in the city.
Under the newly enacted regulations, rentals for durations shorter than 30 days are now only permitted if hosts register with the city. Furthermore, hosts are required to be physically present in their homes during the rental period, sharing living spaces with their guests. Additionally, the rules limit the number of guests to two, effectively barring families from renting these…