NYC Proposes Penalties for Landlords who List Apartments

NYC Council to propose tough penalties for landlords who use sites like Airbnb, in effort to keep affordable housing

From the Daily News, June 10, 2015

Manhattan City Council members Helen Rosenthal and Ydanis Rodriguez will propose tough new penalties Wednesday aimed at property owners who violate the city’s ban on short-term rentals by listing their units on home-sharing sites like Airbnb.

Under the new legislation, the fine for a first offense would increase tenfold, from the current $1,000 to a whopping $10,000, with the maximum penalty jumping from $25,000 to $50,000. A companion bill would mandate an annual report from City Hall of complaints, inspections, and fines connected to illegal short-term rentals.