Trump Tower resident who listed apartment on Airbnb pays $1K

Markets Associated Press

An Airbnb host who was renting out her Trump Tower apartment is among the first to pay a fine to New York City under a law banning advertising listings for short-term rentals.

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The host and owner of the Trump Tower apartment, Yelena Yelagina, paid a $1,000 fine to the city.

A city official tells the New York Daily News the new law will further discourage people from turning their apartments into hotels. It is already against the law in New York to rent out an entire apartment for less than 30 days without the owner present, but the new law bans advertising short-term listings.

An Airbnb spokesperson says the law doesn't distinguish between New Yorkers who occasionally share their home and illegal hoteliers.

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Information from: Daily News, http://www.nydailynews.com