Real Estate Articles

2019-11-07 Airbnb Spent Millions, Loses Fight in Jersey City | By: Brad Beckett

Airbnb Spent Millions, Loses Fight in Jersey City
By Brad Beckett

 We first posted about this last summer when Airbnb announced that they were fighting back against Jersey City (a NJ suburb of New York City) over new laws that severely limit short-term rentals.  So, Airbnb gathered the requisite number of signatures to get it placed on November 5th ballot and then spent over $4 million on a campaign to repeal the legislation.  Now, fast forward to this past election day in which the measure was soundly upheld by voters with over 69% of the vote.  According to reports, Airbnb’s opponents, a coalition of  hotel industry and union workers, spent around $1 million to defeat the measure.   The regulations require strict permits to operate short-term rentals and impose limitations on which properties are eligible, limits them to 60 nights a year if the owner is not present, bans rent-controlled properties from being short-term rentals, and, of course creates new permit fees. 

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