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renting my bedroom short term? problems?

Started by hktkhs
almost 18 years ago
Posts: 14
Member since: Jun 2007
Discussion about
I am looking for a new home, either rental or sale. My friend who has an internaional student service keep telling me that I should get an extra bedroom and I can rent that room (furnished - short term) to his clients (students from Asia) and get a good rent income. Now I am wondering if that would be a problem - renting your bedroom short term - would the management people hastle? What if it's your apartment, coop, or condo?
Response by tenemental
almost 18 years ago
Posts: 1282
Member since: Sep 2007

I have a friend that used to have borders. "Borders," she would specify, "not roommates." She's rent stabilized in a building w/ lax management. I would expect this to be a potentially big problem in a co-op, in a condo maybe not so much(?). Non-doorman would also work better.

I think the bottom line would be to choose a place you can afford without the border. Then if the border thing works out, great. Counting on it could be risky.

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Response by hktkhs
almost 18 years ago
Posts: 14
Member since: Jun 2007

thank you tenemental, good point. I wonder how these people who gets roommates on craigslist are doing. Also what about people who always have guests? I know many of my friends who are hosting constantly their friends/family visiting NYC. What if I tell them they are my guests...

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Response by tenemental
almost 18 years ago
Posts: 1282
Member since: Sep 2007

Guests/family/local friends, will likely have a very different appearance than tourists (cameras, shopping bags, etc.), and the fact that they would all share the same ethnicity would only highlight their status. There was a renter in my same friend's building that had a constant stream of short-term subtenants from one country. It was very obvious what she was doing. Not saying it's impossible; just be careful.

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Response by poorishlady
almost 18 years ago
Posts: 417
Member since: Nov 2007

Tenemental -- Boarder. Not border. People staying with you might be boarders but they would never be borders.

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Response by JuiceMan
almost 18 years ago
Posts: 3578
Member since: Aug 2007

poorishlady -- 2008. Not 1969. People staying with you might think it is 1969 but it is really 2008.

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Response by malraux
almost 18 years ago
Posts: 809
Member since: Dec 2007

According to most coop laws, there is no limitation on the number of guests (not at one time, of course!) that a unit owner may entertain. It is a totally different story if you own a coop but don't live there, and are trying to subvert sublet laws by 'letting out' your unit on a continual short term basis.

But if you are occupying the unit, a coop BoD would have a very, very tough time doing anything more than threatening action, particularly if your 'guests' are staying for a month or more at a time. If it's a short term stay thing and your 'guest' turnover rate is higher, the BoD might be able to make a case based on security. But if you have people staying for minimum of a month (or more) at any given time, in reality, you should have no problem.

In a condo, pretty much anything goes, so you'd have a much easier time.

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