WARNING SHOT

New York A.G.: Most Airbnbs Illegal

Made nearly $40 million on them.

According to New York Attorney General Eric Schneiderman, Airbnb has been raking millions at the expense of New York City through illegal listings. A new report from his office says that more than 70 percent of the listings in New York City are illegal, and those have brought in almost $40 million for the company in New York alone. “This report raises serious concerns about the impact Airbnb can have on the economy of New York and cities like it,” he said. Schneiderman argues that the service is being used by property owners to make millions without paying the city taxes. “Few Airbnb hosts appear to have filed the paperwork with New York City necessary to remit hotel-room-occupancy taxes,” the report said. “Nor did Airbnb collect any of the hotel taxes owed for the reviewed transactions.”