NY S04263

Permits Class A multiple dwelling units to be rented as vacation rentals for fewer than thirty consecutive days without being classified as non-permanent residences, provided units meet specified safety and insurance requirements.

Establishes a licensing system requiring vacation rental unit owners to obtain a valid license ($200 initial fee, $200 renewal fee every two years) with a separate license required for each building containing such units.

Exempts units rented for fifteen or fewer days per year from licensing requirements and limits vacation rental units in buildings with more than twenty units to forty-nine percent of total units.

Imposes operational standards including: minimum forty-eight-hour rental periods, guest registration record-keeping for three years, maximum occupancy at one person per one hundred square feet, mandatory cleaning between guests, and posting of license number and local contact information.

Establishes penalties of $500 to $1,000 per violation plus potential license suspension or revocation for violations; authorizes license denial or revocation for false statements, prior revocations, substantiated complaints, or conflicts with affordable housing programs.