Airbnb ends fight with NYC

New York City reached an agreement on Friday with Airbnb regarding a lawsuit the company filed after Governor Cuomo signed a law that made thousands of the New York City listings on the website illegal. The law, passed by the New York state legislature in June but remaining unsigned until October, called for fines up to $7,500 for property owners who advertised short-term apartment rentals in buildings of “three or more units.” While Airbnb and New York are hoping to work together on eliminating illegal rentals, how they approach cooperation is up for debate. The law lets New York pursue anyone who offers rentals for less than 30 days when they aren't present, even if it really is their primary residence.