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Is it worth buying a co-op in NYC?

One of the biggest reasons to buy a co-op is that they typically sell for less than similar condos. You can often find co-op apartments in NYC for sale for 10-20% less than comparable condos. You'll also save on closing costs if you buy a co-op as you won't have to pay the mortgage recording tax or title insurance.

Is it illegal to sublet a rented property?

In most cases, subletting isn't allowed or may be allowed subject to the landlord's consent. You cannot lawfully sublet all of your home. If you do, you lose your status as an introductory tenant and your landlord can evict you.

Can I airbnb my coop in NYC?

New York City coops prohibit short-term rentals. Condominium homeowner associations (HOAs) have the legal right to ban short-term rentals if they want to.

How do you calculate a sublease in NYC?

3 Ways To Find A Sublet In NYC Craigslist. Craigslist is the most widely known forum to post a sublet, so it has the most inventory. ... Airbnb. Airbnb is very handy when you need a place to stay while traveling. ... Social Media. ... General Tips.

Is it legal to sublease in NYC?

The short answer is: yes, it is legal to sublease in NYC. Under the New York City sublease laws, tenants renting in a building with four or more units have the right to sublet their apartment.

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