Airbnb and NYC bury the hatchet

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(credit: Open Grid Scheduler / flickr)

Home-rental startup Airbnb has ended a legal battle with New York City, its largest market.

Airbnb sued New York City and the state of New York in October, just hours after New York Gov. Andrew Cuomo signed a bill authorizing fines of up to $7,500 against those who violate the city’s short-term rental laws. The company dropped the lawsuit against the state but continued to spar with the city, until the two sides reached an agreement on Friday.

New York City officials have made clear to the company that the fines will be levied against individual hosts who break the rules, not against Airbnb itself. Airbnb has also agreed to help enforce a “one host, one home” policy in New York that would limit hosts to only renting out one home.

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