Illegal Subletters Fined $1 Million (NY)

Apartments occupied by their owners are the dream of every co-op and condo board. To that end, most boards regulate subletting. Earlier this week, we told you about steps boards can take to prevent illegal sublets from turning a co-op or condo building into a hotel.  Today we tell you the cost of turning a building into an illegal hotel: $1 million.  That’s the amount of a settlement the city has reached with two property owners it sued for operating illegal hotels listed on such home-sharing websites as Airbnb, the Daily News reports.     Read the article………………

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