Airbnb hosts to lobby for better rules in New York

ALBANY, N.Y. – Airbnb is launching a new effort to roll back restrictions in New York state that are among the toughest rules for short-term rentals in the nation.

The company released an economic impact study Monday showing that Airbnb rentals in New York last year served 2 million guests and generated $3.5 billion in economic activity.

Airbnb hosts will gather at the state capitol this week to lobby lawmakers to pass a new set of regulations governing short-term rentals.

Under a law signed last year, people who rent out their entire home for less than 30 days face the risk of hefty fines.

Supporters say that law was necessary because some property owners take apartments that could be homes for city residents out of circulation.