Privacy concerns are front and center in this week’s Short-Term Rental Update:
Regulation & Legal Developments
- A federal district court judge in New York preliminarily enjoined from taking effect a New York City ordinance that would require home-sharing platforms to turn over voluminous customer data on a monthly basis. The court held that the ordinance likely violates the Fourth Amendment’s prohibition against unreasonable searches and seizures. ("Airbnb, Inc. v. NYC: Data Collection And Fourth Amendment Protection" on Forbes news, Jan 7, 2019)
This week, the first statewide short-term rental regulations were signed into law in Massachusetts with a number of crucial details. We also note that big money is moving into the startup funding world, which indicates potential future partnerships in the industry, including those between short-term rental giants like Airbnb and co-working communities.
Regulatory & Legal Developments
Massachusetts governor signs law regulating short-term rentals
Smart Cities Dive - News on Jan 2, 2019
Massachusetts will be the first state to require short-term rental hosts to register, pay excise tax and carry insurance.
Transactions & Investments
The Wing gets $75M from Sequoia, Airbnb
TechCrunch on Dec 19, 2018
The Wing, the inspirational New-York based network of work and community spaces designed for women, announced a $75M round of funding. Airbnb, a company that does not regularly invest in startups, and WeWork, are two of the investors in The Wing.
WeHo short-term rental startup AvantStay snags $5M in funding
Real Deal - LA Real Estate News on Dec 20, 2018
AvantStay, a platform that offers short-term rental options for group travel, recently won $5M in funding to further expand its technology initiatives.
We regularly update clients about changes in real estate law and on industry trends. This includes briefing clients on legislative proposals in the federal tax, housing and other legal areas affecting their businesses. Staying current enables you to anticipate and prevent legal problems as well as capitalize on new developments.