Bill 1107 - Homeowners for Financial Empowerment

Short-Term Rental Income is a Lifeline

64%

of homeowners

say short-term rental income helps cover the rising cost of living

30%

of homeowners

say hosting helped avoid foreclosure or eviction before Local Law 18

Source: Airbnb internal survey of hosts in New York between January 1, 2023 and December 31, 2023.

What’s happening to nyc Homes?

Short-Term Rentals
Keep New York
Neighborhoods Strong

Preserve our communities

For generations, renting has been a vital source of income for thousands of New Yorkers—especially homeowners in communities of color—helping them offset rising costs and stay in the neighborhoods they love.

As living expenses climb, homeowners should be able to rent their one- and two- family homes to earn extra income and stay rooted in their communities.

The impact

Make Homeownership Affordable
Help families stay in the communities they love by allowing them to short-term rent space

Support Local Small Businesses
Keep small businesses thriving by welcoming visitors to the outer boroughs

Preserve the Fabric of Our Communities
Provide outer borough homeowners a lifeline to earn extra income and support their families

Local Law 18 is making it harder for everyday New Yorkers to get by

For many New Yorkers, short-term rentals are a critical survival tool. They help:

Families pay mortgages and cover rising housing costs

Keep long-time residents—retirees and single parents— in their homes

Prevent foreclosure and property loss

Local Law 18 is shutting out responsible homeowners—especially those in one- and two-family homes—from using short-term rentals to stay afloat. What was meant to target bad actors is now hurting everyday New Yorkers trying to make ends meet.   
‍
It’s time for a fair fix that supports our communities and keeps New Yorkers in their homes.

Support Bill 1107

FACT

What Intro 1107 Does:

Supporting Struggling Homeowners

This bill only applies to short-term rentals by the primary occupants of private 1-2 family homes.

Allows Families to Stay Together & Permits Locks on Doors for Safety

1107 allows hosts to leave their home for stays, increases guest max from 2 to 4, and allows locks on private doors for security and safety purposes.

Making New Yorkers Stay New Yorkers

By enabling the primary residences of 1-2 family homes to earn extra income we can help stop long-time residents from moving out of New York.

FICTION

What Intro 1107 Doesn't Do:

Take Housing Supply off the Table in New York City

No housing will be converted into shortterm use because Intro 1107 applies exclusively to the primary residence of a host in a private home, having no impact on the housing market.

Turn Homes into Hotels or Investment Properties

Investors and private equity firms aren’t
allowed to turn housing into full time short
term rentals.

Open Up Buildings & Neighborhoods to Parties

Airbnb enforces a strict ban on parties
to protect the quality of life in residential
neighborhoods.

What We’re Asking For

Restore fairness

Responsible homeowners should be allowed to use short-term rentals, while following reasonable regulations.

Focus on large-scale investors

The law should go after bad actors and commercial operators, not everyday New Yorkers who rely on this income to stay in their homes.

Protect neighborhoods

Short-term rentals help families stay in place and keep tourism dollars flowing to local small businesses.