Legal Question in Landlord & Tenant Law in New York

Hi,
I remember a vague scene from a movie (American) in which the character as the tenant mentioned to the roommate he was about to rent one of the rooms out to, that he as the tenant , by law, was authorized to rent out any rooms in the house at a price at his will, and concluded he was by law OK to collect more money than his current rent-amount he paid to the landlord. I can't remember the name of the state, too.
1) Here in NY, Am I as the tenant able to specify my own pricing for each room in the house, in total totaling to more than the current rent of the house, me making money out of this ?
2) Is there a law that says I can ?
Thank you.

Asked on 12/16/13, 11:13 am

5 Answers from Attorneys

Kevin Connolly Kevin J. Connolly

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This depends on many factors. Is your own lease subject to Rent Control or Rent Stabilization? If so, then you must comply with Section 2525 of the Rent Stabilization Code (or you can be evicted). Does the house's certificate of occupancy allow for the use you contemplate? How many tenants? Three plus you puts you into Rent Stabilization Land unless the rent is over $2000 per month. Five plus you and its a multiple dwelling. Do you have two means of egress for each sleeping room? Positive ventilation for fire escapes? Emergency lighting? Fire extinguishing systems? Exit Signage? If you incorporate, you will pay franchise taxes and if you don't then you're on the hook for NYC Unincorporated Business Taxes.

Are you beginning to catch my drift? Don't do this.

Answered on 12/16/13, 1:55 pm

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