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New York City is experiencing its first Christmas season without Airbnb

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the staff of the Ridgewood blog

New York NY, New York City is experiencing its first Christmas season without Airbnb, and the cost of accommodations is on the rise. In September, the city implemented a stringent short-term rental policy that essentially excluded Airbnb, providing benefits to renters but limiting choices for tourists. Expedia Group reports a 25% year-over-year increase in hotel searches this month, with average nightly rates reaching $477, compared to last year’s still-high $416.

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Upper Saddle River Bans Short Term Home and Pool Rentals

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the staff of the Ridgewood blog

Upper Saddle River NJ, after a drowning in Teaneck and a near drowning in Paramus the Borough of Upper Saddle River  has banned short term pool rentals . Other towns in Bergen are debating the same ban .

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New Jersey Airbnb Hosts have earned $825 million since 2010

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the staff of the Ridgewood blog

Ridgewood NJ, Airbnb released a new economic report on our emergence as a platform that generates important income for our 4 million Hosts and revenue for their approximately 100,000 cities and towns around the world — including new data on this impact on our New Jersey Host Community.

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Airbnb Continues Crackdown on Parties

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file photo of potential Airbnb

the staff of the Ridgewood blog

Ridgewood NJ, just in time for summer travel ,Airbnb blocked over 50,000 suspicious bookings across 15 US cities as part of a crackdown on parties during the pandemic. The platform introduced a total ban on parties last year, an expansion of existing rules prohibiting dedicated party houses. Airbnb automatically blocks bookings for certain types of customers in some locations. It provided discounted noise detection devices to hosts and created a 24/7 neighborhood support line as part of the crackdown. The ban on parties will continue until the end of summer 2021.

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Airbnb today issued a reminder ahead of Halloween weekend that parties are banned in New Jersey listings

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the staff of the Ridgewood blog

Ridgewood NJ, Airbnb today issued a reminder ahead of Halloween weekend that parties are banned in New Jersey listings and that the company may take legal action against guests who violate Airbnb’s rules prohibiting parties.

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Airbnb Announces Global Party Ban

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the satff of the Ridgewood blog

Ridgewood NJ, Today we’re announcing a global ban on all parties and events at Airbnb listings, including a cap on occupancy at 16. This party ban applies to all future bookings on Airbnb and it will remain in effect indefinitely until further notice.

How we got here

Unauthorized parties have always been prohibited at Airbnb listings. In fact 73 percent of our listings globally already ban parties in their House Rules, and the vast majority of our guests behave in manners that show respect for House Rules and for neighbors. We’ve historically allowed hosts to use their best judgment and authorize small parties – such as baby showers or birthday parties – if they’re appropriate for their home and their neighborhood.

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Governor Murphy and Superintendent Callahan Authorize Municipalities and Counties to Restrict Short-Term Rentals

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the staff of the Ridgewood blog

Ridgewood NJ, Governor Phil Murphy and Superintendent of the State Police Colonel Patrick Callahan announced an Administrative Order allowing municipalities and counties to impose additional restrictions on short-term rentals in response to COVID-19. Governor Murphy previously signed Executive Order No. 108, permitting municipalities and counties to restrict online marketplaces for arranging and offering lodging. This Administrative Order gives municipalities and counties the ability to impose additional restrictions on the ability of hotels, motels, guest houses, or private residences, or parts thereof, to accept new transient guests or seasonal tenants after 8:00 p.m. on Sunday, April 5.

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New Jersey Airbnb Hosts Earned $50.7

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the staff of the Ridgewood blog

Ridgewood NJ, Airbnb, the world’s leading community driven hospitality company, announced today that its New Jersey host community earned a combined $50.7 million in supplemental income while welcoming approximately 152,100 guest arrivals to the State for the five biggest guest arrival weekends in 2019, including Labor Day Weekend and several peak summer travel weekends.

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Jersey City Short-Term Rental Community to Mobilizes Knock Down AirBnB Ban

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the staff of the Ridgewood blog

Jersey City NJ , Today, Keep Our Homes , a public question committee backed by members of the Jersey City short-term rental community and Airbnb, officially kicked off their campaign to urge their family, friends and neighbors to Vote No on Municipal Question 1 and knock down the mayor and City Council’s short-term rental ban on the November ballot.

The campaign — which the community has called Keep Our Homes, given the threat that the mayor and Council’s ban poses to their livelihoods and ability to afford to stay in their homes — launched today with a video, calling on their City to join them and vote No on Municipal Question 1.

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New Jersey Airbnb Hosts Earn Over $88 Million This Summer

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the staff of the Ridgewood blog

Ridgewood NJ, Airbnb announced today that its New Jersey host community is expected to earn a combined $88 million in supplemental income while welcoming approximately 438,900 guest arrivals to the state this summer, from Memorial Day Weekend through Labor Day.

This summer set another record for Airbnb guest arrivals in New Jersey and especially in the five counties that make up the Jersey Shore — which are, together, the top destination for Airbnb guests this summer. The Jersey Shore saw approximately 220,600 guest arrivals through Labor Day, with local hosts bringing home a total of over $49 million in supplemental income. During the same time last year, there were approximately 165,000 Airbnb guest arrivals to Jersey Shore, with local hosts making a total of approximately $36.4 million. Overall, the Jersey Shore is expected to see an over 33 percent increase in Airbnb guest arrivals.

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Over 20,000 People Sign Petition to End Jersey City’s Short Term Rental Ban

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the staff of the Ridgewood blog

Jersey City NJ, Statement from Airbnb on Jersey City Referendum Campaign the Jersey City Clerk certified the petition submitted by the Jersey City short-term rental community, backed by Airbnb, against Ordinance 19-077.

This ordinance — passed by the Jersey City Council and signed by Mayor Fulop in June — would severely restrict residents’ ability to share their properties as short-term rentals.

The following statement can be attributed to an Airbnb spokesperson: “Today, the 20,000 individuals who stood against Mayor Fulop’s short-term rental ban by signing our community’s referendum petition have been heard. Their message is simple: The people of Jersey City will not remain silent as elected officials push through bad policy that jeopardizes the financial livelihoods of their neighbors. Now, we call on the City Council to respect the wishes of their constituents by throwing out this unpopular ordinance and starting over, collaborating with the short-term rental community and small business leaders to craft and implement common-sense regulations without destroying a thriving economy. We stand ready to work with them to find this path forward — and if not, our community looks forward to bringing this issue to the polls in November.”

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Short-Term Rental Restrictions Challenged In Jersey City

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the staff of the Ridgewood blog


Jersey City NJ , Today, members of the Jersey City short-term rental community, backed by Airbnb, turned in a petition with over 20,000 signatures, to challenge the ordinance — passed by the Jersey City Council and signed by Mayor Fulop last month — that will severely restrict residents’ ability to share their properties as short-term rentals.

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N.J. company tests waters of Airbnb-style backyard pool rentals, report says

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Updated on August 8, 2017 at 2:26 PMPosted on August 8, 2017 at 1:55 PM
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By Jeff Goldman

LAKEWOOD —  A fledgling Lakewood company is attempting to put its own twist on Airbnb stays.

Instead of helping you arrange a short-term rental your home, Pool For U will put your backyard swimming pool on the market, according to app.com. The problem is that there are a slew of legal and insurances hurdles.

Pool For U says it’s a way for people without a pool to access one without a trip to the Shore or a costly pool membership. For homeowners, its helps them offset the thousands of dollars it often costs each year to maintain a swimming pool.

Problems could arise, though, if a homeowner’s insurance company found out, the report said. A policy would be canceled immediately if the insurer learned anyone but the home’s residents or invited guests were using the pool, the report said.

https://www.nj.com/business/index.ssf/2017/08/homeowners_in_lakewood_renting_out_their_pools.html#incart_river_home

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Using Online Services Such as Airbnb to Rent out Your Home? Better Read This!

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August 2,2017
JAMES D. BROWN, CPA
(201) 357-5228

Ridgewood NJ, Renting out your home or second home for short periods of time is becoming increasingly popular with the advent of online services that match property owners with prospective renters. The online sites providing these services include Airbnb, VRBO, and HomeAway.

There are special (and often complex) taxation rules associated with renting out your home or second home for short periods of time. In some cases, these rules allow the rental income you receive to be tax-free. In other situations, the rental income and expenses may have to be treated as business income and reported on a Schedule C, as opposed to a rental activity reported on Schedule E.

The following is a synopsis of the rules governing short-term rentals.

Rented for Fewer than 15 Days during the Year – When you rent out your home for fewer than 15 days total during the tax year, the rental income is not reportable, and the expenses associated with that rental are not deductible. However, interest and property taxes need not be prorated, and the full amounts of the qualified mortgage interest and property taxes you pay are reported as itemized deductions (as usual) on your Schedule A, if you itemize your deductions.

The 7-Day and 30-Day Rules – Rentals are generally passive activities, meaning that they are not treated as a trade or business and are not subject to self-employment taxes. However, an activity is not treated as a rental if either of these statements applies:

A. The average customer use of the property is for 7 days or fewer—or for 30 days or fewer if the owner (or someone on the owner’s behalf) provides significant personal services, or

B. The owner (or someone on the owner’s behalf) provides extraordinary personal services without regard to the property’s average period of customer use.

If the activity is not treated as a rental, then it will be treated as a trade or business, and the income and expenses, including prorated interest and taxes, will be reported on Schedule C. IRS Publication 527 states: “If you provide substantial services that are primarily for your tenant’s convenience, such as regular cleaning, changing linen, or maid service, you report your rental income and expenses on Schedule C.” Substantial services do not include the furnishing of heat and light, the cleaning of public areas, the collecting of trash, and such.

Exception to the 30-Day Rule – If the personal services provided are similar to those that are generally provided in connection with long-term rentals of high-grade commercial or residential real property (such as public area cleaning and trash collection), and if the rental also includes maid and linen services that cost less than 10% of the rental fee, then the personal services are neither significant nor extraordinary for the purposes of the 30-day rule.

Profits and Losses on Schedule C – Profit from a rental activity is not subject to self-employment tax, but a profitable rental activity that is reported as a business on Schedule C is subject to this tax. A loss from this type of activity is still treated as a passive-activity loss unless you meet the “material participation” test, generally by providing 500 or more hours of personal services during the year or qualifying as a real estate professional. Losses from passive activities are only deductible up to the income amount from other passive activities, but unused losses can be carried forward to future years. A special allowance for real-estate rental activities with active participation permits a loss against non-passive income of up to $25,000, which phases out when modified adjusted gross income is between $100K and $150K. However, this allowance does NOT apply when the activity is reported on Schedule C.