Will NY law crack down on Craigslist sublets?

by Caroline McCarthy

The New York state legislature is set to vote this week on a bill that would ban apartment sublets that last less than a month, which if passed would have a significant impact on online vacation rental services like AirBnB, Roomorama, HomeAway, and even classifieds behemoth Craigslist.

In recent years, there’s been a surge in popularity for short-term apartment rentals and housing exchange services that let users offer anything from luxury lofts to pull-out couches–especially in states like New York, whose eponymous island metropolis is known for housing prices so exorbitant that many tourists seek alternatives to hotels and residents look for a way to make up for sky-high rents and mortgages. Online services like HomeAway and AirBnB have made the whole process more accessible and less sketchy, opening up short-term sublets to a market that might not be comfortable with Craigslist.