Airbnb, the online lodging service that investors now believe is worth $US30 billion ($A39 billion), faces a reckoning.

In eight years of torrid growth, the company has often clashed with local public officials seeking to minimise the impact of short-term rentals on neighbourhoods and urban housing markets. Now, those simmering tensions are starting to boil. New York Governor Andrew Cuomo on Friday signed legislation that Airbnb says could…