Sales Market

Heads up, short-term renters

By Margot Slade  | April 18, 2011 - 10:41AM

Attention all you actors, business consultants, student interns, renovators and bad boyfriends in need of a rental for fewer than 30 days: While there will no doubt continue to be a thriving gray-market of temporary domiciles, notes the New York Timesyour legitimate options will shrink drastically next month when a state law banning rentals under 30 days in most buildings goes into effect.

If you're seeking an apartment for longer than a month but less than the usual 1-2 years, make sure to ask for a short-term lease versus a "guest agreement" and  to check with the building's managing agent to make sure short-term stays are allowed...otherwise you could find yourself evicted.

Also, as most short-stay apartments are furnished, be prepared to pay 20-40% more than an unfurnished longterm place.


Related posts:

Dealing with problem condo owners (Part 1): Runaway renovations, condo "hotels," and home businesses

Craigslist scam buster: Check before handing over the cash

Anatomy of a Craigslist scam

BrickUnderground's Renter's Survival Kit

Brick Underground articles occasionally include the expertise of, or information about, advertising partners when relevant to the story. We will never promote an advertiser's product without making the relationship clear to our readers.