Q: Summer is coming up, and some of my tenants are planning on renting out their apartments for the summer. What are my responsibilities as a property manager?
JA:With the weather warming up and summer vacation fast approaching, lots of people are renting out their apartments on Airbnb or other short-term rental platforms. But having a tenant rent out their apartment isn’t as simple as it seems.
In addition to existing laws for short-term rental in NYC, last year, LL18 was put into effect. As per this law, hosts are required to register their apartment with the city before renting out their homes for less than 30 days, under penalty of a fine.
And this law doesn’t just affect your tenants. As a building owner or property manager, you’re responsible for the safety and compliance of your properties, so YOU will be issued a violation for any illegal short-term rentals on your property.
If you don’t want your apartments being used as short-term rentals, you can always have your building listed on the Forbidden Building list with the OSE.
To learn more about LL18 and how it affects you, you can check out our CEO Jack’s blog on the topic.