""The reality is that these short-term rentals are going to happen and so what we want to do is take this market out of the gray zone," said Hoboken Councilmember Joe Quintero, emphasizing the need for clear regulations to avoid chaos in the rental market."
""If we don't have clear rules set, it will be the Wild West," Quintero added, highlighting the urgency for legislation as the city prepares for the influx of tourists during the FIFA World Cup."
Hoboken, New Jersey, has become a hotspot for short-term rentals due to its lack of regulations, contrasting sharply with New York City. The city is preparing for a surge in listings ahead of the FIFA World Cup, which is expected to attract over 1.2 million visitors. City officials are drafting legislation to regulate these rentals, aiming to clarify rules and prevent chaos. The absence of regulations has drawn criticism from affordable housing advocates, while some local lawmakers have previously benefited from the unregulated market.
Read at Gothamist
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