You know when you get bored on the internet. It is amazing what information you can find.
Just found this amendment to the current Multiple Dwelling Law (the one about apartment rentals being illegal), so this makes very interesting reading.
Here is some of the text of the new proposed changes to the law.
Section 1 of the bill amends section 4 of the multiple dwelling law, creating a use of a class A unit for vacation rental purposes, so long as such unit is not an SRO, contains a bathroom and a kitchen, has working smoke detectors in each room of the unit, and carries sufficient fire, hazard and liability insurance.
Section 2 of the bill amends section 4 of the multiple dwelling law to add a new subdivision 15-a that would define "vacation rental unit."
Section 3 and 4 of the bill would amend the administrative code of the city of New York, adding the same language as in sections 1 and 2 of the bill to section 27-2004 and thereby, maintaining uniformity.
Furthermore, there is a paragraph in the text of the amendment, to state, (and this bit is really where it all makes perfect sense)
"These short term units provide tax income to New York and tourism dollars to the areas in which they are located"
If these changes pass, and some Vacation Rentals become legal, will there be an increase in scams, but also will it be easier to spot them?
Link here - open.nysenate.gov/legislation/bill/S4263-2011