Rent New York properties by night or by week
Web sites like HomeAway.com and VRBO.com (which stands for "vacation rentals by owner") are packed with New York properties renting by the night or the week and available well after the law takes effect.
"It's going to be very interesting because a lot of companies, that's all they do," said Marie-Claire Martineau, an owner of Maison International, a brokerage that focuses on finding short-term rentals for celebrities who are in town to shoot movies.
For property owners, she said, profit is often considerably less if the lease is for a month at a time. "We have people calling us now because they are getting ready to try to rent their apartments for more than 30 days. But the problem is that they are used to charging $250 per night. I say, I can get you $3,500 for the month." (Do the math: $250 per night comes out to $7,750 over 31 days.)
REAL ESTATE
Hey, Short- Timer, Park It Here
By HILARY STOUT
Published: April 14, 2011
The short-term rental business may be affected in unforeseen ways by a new state law that will prohibit rentals of less than 30 days in most apartment buildings.