Is it legal to rent out a property without a license in New York City?

In New York City, whether you need a license to rent out a property depends on several factors including the type of property and the duration of the rental. For example, if you are renting out an apartment in a building with three or more units, you generally do not need a specific license to do so as a landlord. However, if you plan to rent the property on a short-term basis (less than 30 days), you must comply with New York’s Multiple Dwelling Law. This law typically prohibits short-term rentals in buildings with three or more units unless the permanent occupant is present during the rental period. Additionally, certain types of rentals, like those in rent-controlled or rent-stabilized units, might have specific regulations governing them.

Trivia: Did you know that the concept of rent control in New York City started during World War II as a measure to prevent rent exploitation during a housing crisis? This system has evolved and still exists today, affecting many properties across the city.