Resisting Illegal Hotels
Many of you may not know this, but I am a huge football fan. While the Giants haven't been doing well this year, I am excited that the next Super Bowl will be hosted in the Giants home stadium in the Meadowlands. While this is cause for celebration, it will place a variety of additional pressures on New York City. My main concern is the pressure such an influx of travelers will have on the hotels and housing in the area.
While hotels will be charging an exorbitant amount for each stay, and will still likely reach capacity, renting out your own apartment is not necessarily a good idea. While there might be money to be made by subletting or renting out your apartment for a few days, I would like to outline a few reasons why this is a very bad idea-starting with the fact that it is illegal.
Even if your Coop or Condo allows such an agreement, and most do not, here are other reasons why such an arrangement is ill advised.
Short term sublets, also commonly called "illegal hotels":
- can be illegal. In New York City, renting your apartment for less than 30 days (unless you are still living in it) is illegal;
- are often a violation of your lease;
- are potentially grounds for eviction;
- could result in damage to your personal property;
- could result in damage to common areas in your apartment building;
- can result in damage that is likely not covered by your insurance policy;
- put you and your neighbors at risk for any range of disruption and crime.
And these risks aren't just true for the Super Bowl. I know we all live in an increasingly expensive city, and extra income is helpful, but short-term rentals of your apartment can be illegal and not worth the risk. Please protect yourself, your home and your community by resisting the urge to rent out your apartment.