Bill 1107 - Homeowners for Financial Empowerment

Help Keep 
New Yorkers in Their Homes

Rental income is vital for thousands of New Yorkers. Bill 1107 champions responsible rentals and housing affordability.

What’s happening to nyc Homes?

For many New York City
homeowners, short-term
rental income is a lifeline

Preserve our communities

For generations, renting has been a vital source of income for thousands of New Yorkers—especially homeowners in communities of color—helping them offset rising costs and stay in the neighborhoods they love.

As living expenses climb, homeowners should be able to rent their one- and two- family homes to earn extra income and stay rooted in their communities.

The impact

Help Keep Families in Their Homes
Help families stay in the communities they love by allowing them to short-term rent space

Support Local Small Businesses
Keep small businesses thriving by welcoming visitors to the outer boroughs

Preserve the Fabric of Our Communities
Provide outer borough homeowners a lifeline to earn extra income and support their families

Short-Term Rental Income is a Lifeline

64%

of homeowners

say short-term rental income helps cover the rising cost of living

30%

of homeowners

say hosting helped avoid foreclosure or eviction before Local Law 18

Source: Airbnb internal survey of hosts in New York between January 1, 2023 and December 31, 2023.

Local Law 18 is making it harder for everyday New Yorkers to get by

For many New Yorkers, short-term rentals are a critical survival tool. They help:

Families pay mortgages and cover rising housing costs

Keep long-time residents—retirees and single parents— in their homes

Prevent foreclosure and property loss

Local Law 18 is shutting out responsible homeowners—especially those in one- and two-family homes—from using short-term rentals to stay afloat. What was meant to target bad actors is now hurting everyday New Yorkers trying to make ends meet.   
‍
It’s time for a fair fix that supports our communities and keeps New Yorkers in their homes.

Support Bill 1107

What We’re Asking For

Restore fairness

Responsible homeowners should be allowed to use short-term rentals, while following reasonable regulations.

Focus on large-scale investors

The law should go after bad actors and commercial operators, not everyday New Yorkers who rely on this income to stay in their homes.

Protect neighborhoods

Short-term rentals help families stay in place and keep tourism dollars flowing to local small businesses.