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Stay Vigilant to Avoid Hefty Fines for Illegal Sublets
Life as a landlord in New York City requires owners to suffer insult and injury. An example is when a rent-stabilized tenant illegally sublets the apartment on websites like Airbnb for short-term rentals. Usually, the tenant is profiteering. The tenant charges a daily rent that is much more than the legal registered rent that the owner is limited in collecting. If the landlord charges more than the legal rent, the tenant will be awarded treble damages. So, the owner provides all the services and pays the taxes and the tenant profits. That is so wrong.