New licensing regulations in New York and Boston affect both short- and extended stay accommodation options

EXETER, DEVON, UNITED KINGDOM, September 20, 2023/EINPresswire.com/ -- In a recent white paper, the global accommodation agency, Situ, focused on New York and Boston among other key markets to find out which factors, including legislation, are impacting the supply of short- and extended-stay accommodation.

The study aimed to identify the factors, including legislative ones, that affect the availability of short- and extended-stay accommodation in these locations.

In New York City, as in many other cities worldwide, visitors prefer short stays in residential apartments to experience a more authentic local lifestyle. Travel has rebounded post-pandemic, and a global business hub, the city is also a prime destination for corporate travel.

This surge in short-term rentals in NYC led to concerns about housing availability, health and safety, and neighbourhood disruption. Regulations now make it illegal to rent an apartment, condo, or co-op for less than 30 days unless the owner resides on the property. Violations result in substantial fines.

The strict rules may professionalise the short-term rental market in New York, but also limit accommodation options for extended stays and reduce the diversity of available properties, including those residential options that offer a more ‘local’ experience.

Boston is home to some of the world's most prestigious universities and hosts a wide range of world-class medical facilities. Accommodation providers are navigating evolving regulations to provide short- and extended stays to university and medical professionals, patients, and those relocating to Boston – with availability also impacted by flagship events such as the Head of the Charles Regatta and the Boston Marathon.

For more on current factors, including legislation, that are impacting the supply of short-term rental accommodation and how this is affecting the extended-stay sector in ten global locations, please see Situ’s white paper, based on recent research with industry leaders and accommodation partners across Situ’s global supply chain.

Phil Stapleton, Situ’s Founder and CEO says, “Whether short- or long-term accommodation is required, and wherever in the world it is needed, it is becoming increasingly evident that there are similar challenges around changing regulatory environments presenting themselves in each market. Even greater collaboration across the sector would be welcome. By promoting a better understanding among a broader audience, we will position the sector favourably to avoid limitations as the industry continues to grow.”

“Each location has its own nuances and challenges right now,” says Rebecca Gonzaga, Situ’s Managing Director. “Thankfully, we have the understanding expertise, resources, and capability to guide our clients through these to secure quality accommodation that meets their requirements.”

Situ has a wide range of accommodation options in New York, Boston, and worldwide, with over 10,000 accommodation partners, 32,000 buildings, and over 219,000 front doors, spread across more than 2,500 locations in over 140 countries. Please see www.staysitu.com or contact one of the Situ team.


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For all Situ media enquiries contact Tamara Edgar tamara.edgar@staysitu.com, +44 (0)1392 690 079

About Situ

Since 2008, Situ has been helping companies and organisations find the perfect accommodation for people when they’re on the move. Project team, corporate traveller, relocation assignee, global nomad – the title doesn’t matter. They’re all individuals who need somewhere to call home when they aren’t at home. And that’s what Situ does all day, every day – working to make finding and booking serviced accommodation effortless.

Situ offers a single point of contact for booking quality accommodation in over 140 countries worldwide.

www.staysitu.com

Tamara Edgar
Situ
+44 1392 690079
tamara.edgar@staysitu.com
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