How Airbnb Affects the New York Rental Market

Airbnb has been blamed for worsening rent growth in New York City, particularly in Manhattan and Brooklyn, but the company says its analysis is “deeply flawed.”

Фото: Depositphotos

According to the office report NYC Comptroller Cattle Stringer, released on Thursday, 3 May, rental offers airbnb 9,2% was affected by the increase in rental rates in the period from 2009 to 2016 year.

In 2016 alone, New Yorkers overpaid $ 616 million in rent due to price pressures created by the company, according to a report. Approximately half of this amount was distributed across several tourist areas in lower Manhattan and Brooklyn.

“For years, New Yorkers have felt the burden of rent, and airbnb is one reason,” Stringer said via email. — From Bushwick to Chinatown and in many surrounding neighborhoods, there are affordable apartments that should be available for rent but never hit the real estate market because they are profitable airbnb».

While the number of people willing to rent property for rent on airbnb increased dramatically from 1000 in 2010 to 40 000 in 2016, reaching a maximum in 2015 43 people in 000, the average rental rate throughout the city increased by 25% (or $ 279).

“If we are going to expand our middle class, we must put people first, not profit,” he added.

The report shows a correlation between rent growth in certain areas and rental concentration airbnb in these areas, primarily Greenpoint and Williamsburg in Brooklyn and Murray Hill, Gramercy and Styvesant Town in Manhattan.

According to the report, in these areas the highest level of rent is noted, and also here is the most property for rent Airbnb.

Between 2009 and 2016, the average monthly rent in Greenpoint and Williamsburg increased $ 659, $ 123, from which the report attributes an increase in airbnb around.

Average rents in Murray Hill, Gramercy, and Stuyvesant districts increased $ 488, $ 105 of which influenced airbnb.

airbnb does not agree with the report, arguing that the method of calculation is erroneous.

The company submitted a request for freedom of information to the controller’s office on Friday to receive messages related to the concept and development of the report.

“The very basis of the report is deeply flawed: assuming that all owners airbnb rent their homes 365 nights a year, this is akin to conducting a traffic study that assumes all cars in New York are on the road all day, every day,” said Chris Lehane, head of global policy Airbnb.

Lehane claimed that airbnb It has reason to believe that Stringer's report was prepared under the influence of special interests.

“This report was paid for with taxpayer dollars, and the public has a right to know who was involved in this work,” he added.

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