FOR IMMEDIATE RELEASE: ONTARIO GOVERNMENT BANS AIRBNB-TYPE SHORT-TERM RENTALS DURING PANDEMIC This is an important step towards containing community spread of COVID-19, says coalition #ONpoli #TOpoli #COVID19 #Airbnb

"The breakdown of the Airbnb economy could strain lenders, undermine property values, and validate local govs’ long-held suspicions that Airbnb contributed to the affordable-housing crisis."

“I made a bargain with the devil.” The promise of more rental income offset growing debt. Owners of short-term rentals can't make ends meet as cancellations and bookings surge for Airbnb

"Airbnb spawned a cottage industry of homeowners running their own property empires, turning the startup into a hotelier without any hotels." Now, they're stranded and ill-equipped to handle an economic disaster.

Despite Airbnb hosts losing their income with no recourse, Airbnb slashes expenses and secures $2B in financing and a $1B loan. They have no plans to help hosts recover.

.AirDNA estimates that a third of Airbnb listings are by hosts with b/w 2-24 properties. Another third involve hosts with more than 25 properties, often created by startups, which pay to rent hundreds of apartments that they sublease on Airbnb and elsewhere

One in five Airbnb hosts said hosting on the platform helped them avoid eviction or foreclosure. Now they have nothing. While they are potentially eligible for small-biz loans and unemployment, it's not clear how many hosts qualify and whether disbursements would be fast enough.

“[Airbnb hosts] have taken on a lot of risk, and we’re seeing the consequences of that now.” With Airbnb hosts 1-2 months away from foreclosure, many are desperate to sell properties, adding diminishing overall property values to Airbnb's economic disaster.

City warns AirBNB and HomeAway hosts: If your guests throw a party, you're permanently banned from hosting in Chicago. 👇

NEWS: Airbnb planning significant layoffs of full-time employees - Between 1,000-2,000 staffers expected to lose their jobs - Airbnb will put aside projects related to transportation, TV studio, luxury - Will save hundreds of millions of dollars a year theinformation.com/articles/airbn…

BREAKING: Airbnb to lay off nearly 1,900 people, 25% of company cnbc.com/2020/05/05/air…

Airbnb is cutting 1,900 employees, or 25% of its workforce, the company's co-founder and CEO told employees in a memo on.wsj.com/2L090Dl

Key protections of the law remain in place. Airbnb will now have to disclose critical info about its operators, which will improve NYC's ability to enforce existing housing laws & rein in the bad actors & commercial operators who have eaten into our affordable housing stock.

The law will remain the most far-reaching data disclosure law in the country. On top of assisting the City with its enforcement efforts, the info Airbnb will be required to disclose will act as a very strong deterrent against commercial operators.

With the key data sharing and enforcement provisions remaining in place to hold Airbnb accountable, this settlement is a huge victory for affordable housing advocates and tenants.

.Airbnb will now provide NYC quarterly updates of following: ✅listing address ✅name, phone number & email of host ✅whether the short-term rental is for an entire unit/apartment or part of a unit ✅total number of days booked ✅amount received by the host for each transaction

“With this agreement, the city will have a powerful tool to detect those who hide behind fake accounts and address those who take housing away from New Yorkers,” ––Christian Klossner, Exec. Dir. of the Mayor’s Office of Special Enforcement

A new union deal could require furloughed hotel employees to take a #Covid19 test before returning to work #CrainsNY ow.ly/qBdE50AcFta

An anonymous current employee tells anna furman: “[Airbnb] is a company that positions itself as a brand for the people, of the people—and then internally, people are treated like second-class citizens. It’s hypocritical.”

"For a company that prides itself on cultivating human connection, [Airbnb’s] approach to laying off 534 contractors with its partner agency was remarkably callous."—anna furman