NYC long term rental?

[Jesse415]

I'm considering purchasing an apartment in Manhattan? I plan on using the place for myself every 5 - 6 weeks and renting in between. Does anyone have good data or a resource for how successful or not 30-day rentals are? Thanks.

[Brian2036]

@Jesse415 

It’s not a good idea to rent for more than 28 days because if the guest establishes legal residency they become a tenant and you may have a real problem getting rid of them if they don’t want to leave.

NY tenant law is a horror show. When I lived there it was illegal to evict a tenant for any reason between November and May because they might freeze to death. That may have changed but I doubt it.

For a new listing I strongly suggest that your maximum should be no more than 14 days, no children or pets, and no bargain hunters.

Look for vacationers or business travelers.

Ignore Airbnb suggestions regarding price and discounts. They’re ridiculously low.

[Jesse415]

Thanks for the reply. So the problem with that is the city's new laws basically banning st rentals. There are a few exceptions, but mostly, you can't do anything under 30 days. Yikes on the possibilities there, I guess.. 

[Brian2036]

@Jesse415 

That truly sucks. But I’m not surprised.

Here’s some information on the STR law:

https://sharedeconomycpa.com/blog/nyc-airbnb-law/amp/

[Nancy1609]

I do. It’s been good for us for the last 10 years. 
if you would like more info let me know.

[Nancy1609]

Until most recently given the new proposed law as of last Thur 12/9/2021. 

Not sure what other host  are considering doing. I was able to rent for 28 days and it worked well for us. It gave us time to turn it around for the next months guest. We own our home & have a studio set up that we rent within our property. 
Not sure that we want to register our place with the city although we are not doing anything illegal.

[Soft0]

Hey! I’d love to talk more!