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Airbnb has settled its lawsuit with New York state over plans to curb short-term rentals on the sharing economy site.
Both parties have agreed that the case against the state should be dismissed and instead Airbnb will focus its efforts on New York City.
“We have long sought to work with leaders in New York on clear, fair rules for home sharing,” an Airbnb spokesman told the Wall Street Journal. “We’re continuing to do all we can to protect the thousands of middle class families who depend on home sharing to earn a little extra money.”
The lawsuit follows a ruling by a Manhattan federal court in October that imposed fines of up to $7,500 on hosts who advertise rentals on platforms such as Airbnb for fewer than 30 days.
Airbnb CEO Brian Chesky has confirmed they are in talks with the city of New York to reach a compromise that could lessen the impact of the ruling.
Airbnb alleges the new law is the result of pressure from hotel lobbyists concerned about vacancies and pricing power. It has said the law’s ambiguous wording could allow New York authorities to apply the law to online platforms like itself that host third-party listings, creating the risk of “significant civil penalties and criminal liability”.