NYC Prohibited Buildings List Banning Short-term Rentals
The NYC Prohibited Buildings List is banning short-term rentals. Owners of properties where short-term rentals are prohibited may notify OSE and request that the property be included to a list of Prohibited Buildings under the Short-Term Rental Registration Law. According to the law, OSE must turn down registration requests for buildings on this list.
A building owner must declare that short-term rentals are forbidden by leases and other occupancy agreements for residential units inside of their buildings in order to be listed on the restricted buildings list. A building’s lawful occupancy or zoning use group are unaffected by its presence or absence on the forbidden building list.
Sherwin Belkin, Co-Founding Partner, was quoted by Brick Underground in the article “NYC’s Prohibited Buildings List banning short-term rentals goes live.” The article indicates that “Sherwin is not surprised that there is enthusiasm for the new banned buildings list as he does not have a single client who hasn’t expressed interest.” He also states that “It’s a step in the right direction and gives owners greater control and puts those who engage in illegal short-term rentals in the hot seat.”
Should you need assistance analyzing the new law and how it applies to your situation, please contact your BBG attorney on record or contact us through our website.