Artist loses rent-stabilized Tribeca loft, fined $185K for putting it on Airbnb - New York Post
Summary
An artist in Tribeca, NYC, lost their rent-stabilized loft and was fined $185,000 for listing it on Airbnb. Hosts should be aware of local regulations, especially concerning rent-controlled or -stabilized properties, and the potential penalties for violating them.
Key Insights
- •An artist was fined $185,000 for using their rent-stabilized apartment on Airbnb.
Action Items
- ✓Research and understand local regulations regarding short-term rentals, especially concerning rent-controlled or -stabilized properties, before listing a property.Effort: mediumImpact: high
Common Mistakes
- ⚠Listing a rent-stabilized property on Airbnb can result in significant fines and loss of the property.
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