Manhattans fierce hotel market just lost a set of competitors. New York Governor David Patterson signed a law July 23 that prohibits any apartment sublets or rentals shorter than 30 days. That means starting May 1, 2011, travelers wont have the option of booking rooms off of sites like AirBnB.com or Roomorama, where tenants and condo owners have long hocked their temporarily vacant apartments to families and bargain-hunters trying to save cash on vacation.
Happily, there are still a couple of ways left to live like a real New Yorker. Most notably, the law doesn't apply to "hosted visits," which means that when the owner of an apartment is home, he or she may still rent out any spare rooms. The policy also permits home swaps, as long as no money is exchanged, and retains brownstone owners' full property rights.