REAL ESTATE WHAT DOES THAT MEAN?
IMAGE: STEPHANIE CARTER
Unless the property you seek to rent out is a one or two family home (which are both exempt from this law), it is illegal to rent your entire apartment for a period of less than 30 days. So those of you looking to make a quick buck by renting out your one-bedroom apartment for a holiday weekend would be in clear violation of the law. However, you may be able to rent out a spare room in your apartment for a shorter period, so long as you are there during the entire duration of your guest’s stay. Therefore, if you want to share your apartment with a stranger for a holiday weekend, you may be safe; but remember, you must still comply with the terms of your own lease or with the rules of your co-op or condo.
APARTMENT LEASES
Almost every residential lease has a provision that prohibits you from subletting your apartment without the prior written consent of your landlord. Doing so would be a breach of your lease and ultimately might lead to your eviction. While your landlord cannot unreasonably deny your request to sublet, unless your lease grants you the right to do so, any such request would need to comply with the strict guidelines of Real Property Law 226-b. And any request to sublet for less than 30 days would hardly be deemed reasonable. In short, if you are a renter, your lease likely prohibits you from using Airbnb to rent out your apartment.
WHAT DOES THE FUTURE HOLD FOR AIRBNB AND NYC?
There is no question that short-term rentals are rampant in the city. As a result, government officials, including the New York City Council and the New York State Attorney General, have been paying a lot of attention. In October 2014, the attorney general put out a report, indicating that during the period January 1, 2010 through June 2, 2014, Airbnb short-term bookings experienced a ten-fold increase in revenue. In 2014, revenue was approximately $282 million (rapidly gentrifying neighborhoods such as Hell’s Kitchen and Chelsea accounted for much of that revenue). By all accounts, these numbers are likely conservative estimates. Furthermore, according to the report, 72% of the units being offered on Airbnb for private short-term rentals were in violation of applicable New York State and New York City laws. In light of this, the city is cracking down on Airbnb. In an effort to eradicate illegal sublets, Mayor de Blasio has committed $10 million to strengthen enforcement efforts. While these have been largely focused on multi-family building owners who hold many rental units off the market (essentially turning rental buildings into illegal hotels), the
CO-OP AND CONDOS
You are similarly restricted. Almost every co-op in New York strictly limits or prohibits subletting. Even if the co-op rules allow it, most will not allow sublets for less than a year. Likewise, while condos typically don’t restrict an owner from leasing a unit (which is one of the benefits of owning a condo), rules almost always prohibit anything less than a year. In either case, before the proposed tenant is allowed to occupy the apartment, both owner and tenant must submit an application for approval. Thus, renting out your apartment without the appropriate consent can have significant legal and financial consequences.
DIGITAL EDITION
Above: Matthew Lehrer takes the weight off. Left: The controversy over Airbnb shows no sign of going away anytime soon.
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