The new law in New York allows authorities to fine hosts up to $7,500 if they are caught listing a property on a rental platform such as Airbnb. The New York law is particularly worrisome for Airbnb. The new law “would impose significant immediate burdens and irreparable harm on Airbnb,” the company said in its complaint. Since 2010, it has been illegal in New York to rent out a whole apartment for fewer than 30 days. The legislation followed years of haggling between Airbnb and New York officials.

Source: New York Times October 21, 2016 20:48 UTC