Renting out your apartment entails pitfalls that can be avoided by knowing them.
Once you rent out your apartment, you create a “landlord-tenant” relationship with your renter.
That relationship is governed by a set of very specific (and technical) laws enacted by New York State and New York City, notes blogger and real estate lawyer Ron Gitter, who is a friend of mine.
Those laws tend to favor your tenant, but the “Landlord-Tenant Part” of the Civil Court of New York City does offer a judicial forum, albeit not necessarily a speedy one, for resolving issues that can’t be settled by mutual agreement between the parties.
Condo owners need to consider an array of business related issues before they enter into a lease.
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