Skift Take
Like many condos in New York City, home-swapping isn't addressed in Local Law 18. Should it be?
Home-swapping has thrived in New York City since Local Law 18 went into effect one year ago and placed tight restrictions on short-term rentals.
HomeExchange, a leader in this space, has seen a 53.6% jump in the amount of exchanges finalized in New York City since the registration law went into effect, CEO Emmanuel Arnaud told Skift.
“HomeExchange members are not required to register under Local Law 18,” Arnaud said. “Since home exchanging does not displace local residents and is not about profiteering, we have so far been successful in differentiating ourselves from this type of regulation in New York City and beyond.”
Arnaud said 92% of its properties are primary residences "so HomeExchange is limiting the number of apartments sitting empty." Many of the properties