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New York State will now fine those who rent out homes and apartments illegally:
New York Governor Andrew Cuomo signed a bill into law that will fine residents who rent out their apartments for illegal short-term stays, striking a blow against Airbnb in one of its most important markets. Airbnb said it would file a lawsuit immediately to block the measure. The fines for those who advertise vacant apartments in a multi-unit building for 30 days or less could be as high as $7,500 for repeat offenders. Airbnb has acknowledged this rule is ignored by thousands of members. People are allowed to rent out a room in their house or apartment while they are also staying there, however.
The law will also fine residents for simply advertising an illegal rental listing. Airbnb tried to offer concessions to prevent the bill from passing. Also at ABC, ConsumerAffairs, and Reuters.
(Score: 4, Insightful) by archfeld on Saturday October 22 2016, @10:23PM
Rampant American corporatism is not capitalism. Large corporations have made it illegal to interfere with their right to all the profit. A small business has no place attempting to make a buck.
For the NSA : Explosives, guns, assassination, conspiracy, primers, detonators, initiators, main charge, nuclear charge
(Score: 1, Interesting) by Anonymous Coward on Sunday October 23 2016, @04:25AM
The argument was against capitalism, not corporatism. Or more precisely corruption, and capitalism hasn't cornered the market in that.
And if you really want to belabor the point, corporatism is socialism for the well-connected.
The legal justifications for this don't originate from investing in business shares as much NIMBYism of people promoting a collective right to dictate how private property should conform to their whims, whether the collective is corporate or busybodies.