New York State Governor Andrew Cuomo recently signed a bill that will levy heavy fines (up to $7,500) on Airbnb hosts who do not abide by local housing regulations.

Hours after, Airbnb filed a federal lawsuit claiming “irreparable harm.”

However, they also proposed a 5 point plan that they hope will make home-sharing work in New York City and then serve as a framework for new legislation.

Here are Airbnb’s 5 points (summarized by me):

1. One host, one home: Just like it sounds, this would limit people to renting a single home within the five boroughs.
   

2. Require registration: State would require short-term rental hosts to register. Airbnb would be authorized to register people on behalf of the state.
   

3. Make home-sharing work for all

New York State Governor Andrew Cuomo recently signed a bill that will levy heavy fines (up to $7,500) on Airbnb hosts who do not abide by local housing regulations.

Hours after, Airbnb filed a federal lawsuit claiming “irreparable harm.”

However, they also proposed a 5 point plan that they hope will make home-sharing work in New York City and then serve as a framework for new legislation.

Here are Airbnb’s 5 points (summarized by me):

1. One host, one home: Just like it sounds, this would limit people to renting a single home within the five boroughs.
   

2. Require registration: State would require short-term rental hosts to register. Airbnb would be authorized to register people on behalf of the state.
   

3. Make home-sharing work for all