Ezra Gershanok and Jacob Halbert had made almost nothing in sales for their apartment subleasing startup until this spring.
Then, they say, the platform got 1,000 new listings in New York City in just two months, and sales jumped to $1.2 million in May. The founders believe the growth spurt stems from Local Law 18, new regulations enacted last fall around short-term rentals.
The startup, called Ohana, is meant to connect hosts and guests for the mid-term rental market, defined as stays between 30 days and 12 months. The platform facilitates an introductory video call between the parties, along with a sublease agreement and payments.
“The reason we had crazy growth in the spring is because there’s so many people…