New Bill Introduced To Regulate New York City Vacation Rentals (as Opposed to Banning them)
A new bill was recently introduced by Senator Martin J. Golden intended to amend the yet to be implemented short-term rental ban in New York City.
The purpose of the bill “is to provide an exemption for a specific class of good actors that rent certain class A multiple dwelling units on a short-term basis.” 
As long as the “class A” multiple dwelling unit (i) is not a single room occupancy, (ii) contains a bathroom and kitchen, (iii) has working smoke detectors located in each room and (iv) the unit has sufficient fire, hazard and liability insurance to cover those persons using the unit for such occupancy, the unit could be lawfully rented for less than thirty days.
The accompanying memo further provides: “Last year’s law was written to encompass a greater universe than was intended. While it successfully phases out SROs [Single Room Occupancy Buildings], it also is ridding New York State of a legitimate business model: short-term rental units. These short-term units provide tax income to New York and tourism dollars to the areas in which they are located. They should not be confused with the small single room living spaces that are SROs, which often get associated with decrepitude, poor maintenance, and numerous building and health code violations. While one can certainly find examples of municipalities and a few states regulating short-term rentals, it is a hard-pressed task to find those which completely ban it. This legislation would help those individuals and small businesses that will no longer be able to operate because of this law.” 
Please note that Senator Golden voted against S68730-B/ A1008-B (also known as the “illegal hotel” bill) in June 2010. He is currently representing Brooklyn’s 22nd Senate District.
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