Description: In the grand battle of the City of New York versus Airbnb, the online rental agency wins this round. This means that Airbnb and other online rental agencies will not have to provide the City with details of renter addresses and names. The City is concerned that Airbnb and similar agencies can drive up rents and change neighbourhoods. In many cases it is illegal to rent an apartment in New York for less than 30 days.
Date: January 3, 2019
Source: bloomberg.com
Discussion points:
1)Have you used Airbnb or a similar service? What was your experience?
2) Do you agree with the City of New York’s position that short-term rental services like this will drive up rents and change neighbourhoods?
3) Where would you anticipate seeing a lawsuit discussed in Airbnb’s financial statements? For information on this question, check out chapter ten of Wiley’s Financial Accounting: Tools for Business Decision-Making.
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