Have you ever wondered about the electrifying world of short-term rentals (STR) in the vibrant state of New York? Well, buckle up because we're about to embark on a thrilling journey through the intricate landscape of vacation rentals in the State!

This write-up will unravel the mysteries surrounding short-term rentals, exploring everything from their legality to the nitty-gritty details that can elevate your hosting game in the State as we delve into the crucial questions every host should ask before venturing into the business in the State

New York has an all-encompassing definition for short-term rental in the State. Short term rentals are considered as the rental or lease of any dwelling unit or part of a dwelling unit, for a period of thirty (30) days or less, to guests whether by an owner or a long-term lessee of the short-term transient rental unit.

Most cities agree that stays for a period of 30 days or less count as short-term. However, some cities have slightly different lengths of stay. In bustling urban hubs like New York City, shorter stays prevail, often ranging from 1 to 7 days. In contrast, in more serene locales, a week or more may be the norm but a period of 30 days or less counts as short-term rental in the state.

Let's talk dollars and cents! New York State imposes a statewide tax requirement on short-term rentals. The New York State Department of Taxation and Finance requires vacation rental hosts to collect and remit the following taxes to the department;

1. New York State Sales Tax
2. New York State Hotel Unit Fee ($1.50 per unit per day)