New York City began enforcing its new regulations on short-term rentals from last September. The strict policies dubbed Local Law 18 (LL18) are currently impacting short-term rental platforms like Airbnb, with the number of legal listings significantly reduced. The core aim of this near-ban was to alleviate the city’s intense housing shortage, but it’s unclear if the goal is being achieved. However, with the rise of summer tourism, the lack of rentals and increasing hotel room costs could cause a more expensive trip for the city’s visitors. Under LL18, individuals can only rent their homes for less than 30 days if their property meets specific conditions. This includes the property being in an approved building, a maximum of two guests at a time, and the host must cohabitate with their guests during the rental period, among other rules. Potential hosts have to secure approval from the Office of Special Enforcement under the Mayor’s Office of Criminal Justice. The application portal for this was launched last March.