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Airbnb has capitulated to lawmaker demands over its operations in New York City, agreeing to drop a legal challenge against newly passed legislation. The suit disputed a recent state law calling for fines up to $7,500 for illegally listing short-term offerings on online rental platforms such as Airbnb.
The penalty for letting furnished accommodations to tourists without a license (registration with your local Council) is as follows: for Individuals: €2,500 to €3,740.98 / for Companies: €25,000 to €44,891.22 The same fines also apply to the absence of an Energy Efficiency Certificate that is mandatory when conducting property related activities.