Legal Question in Real Estate Law in New York

Renting out finished Basements

We are about to purchase a vacation house in the Hamptons on Long Island, but we're concerned with the ''illegal'' apartment in the basement. It has a full bath, kitchen w gas stove, washer/dryer & fridge.

The purchase is contingent on a

C of O for a ''finished basement''.

But we wanted the words ''finished apartment''. The apt has at least two means of egress, but will we have trouble with any disgruntled tenant if they report us to the Building Department ? The idea is to rent the apartment only during the summer ''season'' to cover the expenses. We'd rent it

at a below market rent, assuming they pay for 1/2 of the electric. We'll

only be there on weekends and the pool would otherwise be running the whole season. Should we insist on a C of O for the Finished Apartment or should we settle for a Finished Basement?

Thank you for your professional opinion.

Ford Fernandez


Asked on 5/18/07, 4:08 pm

1 Answer from Attorneys
Robert R. Groezinger GroezingerLaw P.C.

Re: Renting out finished Basements

If you want the basement to say "apartment", then it will need to be a legal 2 family. That is the issue you are up against as compared with "finished basement".

good Luck

RRG

Read more
Answered on 5/18/07, 6:13 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in New York