New York City’s crackdown on short-term rentals has led to a decrease in supply and an increase in prices. Travelers are finding that vacation rentals are more expensive and they are turning to alternatives such as hotels and hostels. The law specifically targets stand-alone properties, which are properties where neither the host nor other guests are on-site. Experts expect that the reduction in supply for stand-alone units could drive up demand for shared spaces and hotels, leading to a potential increase in lodging prices across the board. The new law’s enforcement has changed how — and where — hosts list their properties. Some hosts are changing how they list their properties to 30 days or more to avoid the law. By Coshorts
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