Micro-Subletting Is Thriving in New York — But Is It Legal?
Micro-subletting is a pretty good business in New York these days. As the New York Post recently reported, residents throughout the city are "bringing in tens of thousands of dollars" renting out their units or spare rooms for days or weeks at a time. Carol Williams of the East Village made $18,000 in 10 months. Mikey Rox of Harlem pulled in $75,000 over three years. Seth Porges has made $60,000 over two years and published tips for how others can do the same.
The only problem with the scheme — at least in some cases — is that it's illegal. A 2010 state law, implemented in May 2011, prevents someone from occupying a Class A dwelling for fewer than 30 days. Though the primary targets of the law were illegal hotels run by building owners, the provision extends to people living in residential apartment units as well.