For the better part of 20 years, the likes of Airbnb, Vrbo and other short-term rental programs have been taking more people out of hotels and into their homes. But the once-easy way to rent a house for a weekend may soon be more difficult in New York state.
Newly proposed legislation to regulate short-term rentals would require rental property owners to make changes to their properties, such as meeting various safety requirements like having a fire extinguisher and insuring the property.
Attorney Ryan McCall from Tully Rinckey joins our Mercedes Williams to discuss what these potential changes mean for property owners, if he thinks any costs will be passed on to the consumer, and how these changes could impact the likes of Airbnb and Vrbo with reports that companies are slumping in the larger markets.
