Showing posts with label NYS Real Estate Compliance. Show all posts
Showing posts with label NYS Real Estate Compliance. Show all posts

Thursday, January 02, 2025

AirBnB / VRBO Hosts are Going to be Taxed in NYS Starting April 20, 2025

Starting April 20, 2025, short-term rental hosts across NYS will be in for a rude awakening by way of A4130C. This law creates a statewide short-term rental registration requirement for owners, which is designed to facilitate the State in collecting occupancy taxes while tracking the hosts. 

To be clear, NYS is now treating short-term rentals like hotel rooms under the Tax Law - this is certainly going to cut into profits for hosts &/or make renting an AirBnB / VRBO more expensive for guests. 

For hosts, this means much more paperwork, stricter rules, and some hefty penalties for noncompliance. Specifically, the Department of State will give you 2 warnings & then, start levying the fines at hundreds of dollars per day, per violation. 

New York is not alone in its quest to regulate short-term rentals. Cities like San Francisco, Boston, and Los Angeles have already implemented similar measures. However, New York’s approach stands out for its focus on statewide coordination, which could become a model for other states grappling with the complexities of regulating the short-term rental industry.



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