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Is Co-living Legal in New York City

Whenever affordability becomes challenging, people turn to innovation. However, no matter how everyone wants to leverage the innovation since it’s the only way out, there are legal rules and regulations associated with it.

New York is a big city, meaning numerous living styles are available. And because not all fingers are the same and not everybody is born with a silver spoon, many people can’t live up to their maximum expectations. While the riches can afford the kind of living style they want, it’s a hard task for the less privileged.

To solve this daunting problem, real estate professionals decide to come up with a new idea, which is co-living. You might be familiar with this concept in other states, but is it legal in New York? The answer is yes, but there are some regulations governing the legalization. So let’s explore it in detail.

What is Co-living

Co-living, which is also described as co-housing, house sharing, or communal living apartments, involves two or more strangers living together under the same roof. This popular concept is famous among New Yorkers because it offers a great deal; you will enjoy easy and affordable living without compromising your quality of life. Several management handles these activities, providing a comfortable and convenient lifestyle to their tenants.

What are the advantages of Co-living in New York City

You might think that co-living only involves living with a stranger in a conventional space; this unique concept has more to offer than what the eyes see. Below are some advantages of co-living.

  • Most co-living facilities build apartments regularly, meaning you will always find a new building and choose the one that will suit you the best.
  • You will find several amenities in co-living apartments, such as Wi-Fi, housekeeping, utilities, etc.
  • Finding a co-living apartment is easy, meaning you can efficiently find many shared housing in New York City, and your house management will effectively handle your affairs.
  • Sometimes coping with the ways of living in some cities is not easy, especially if it’s your first time there. However, with co-living, you can easily blend into the community; you will access events and even get discounts at their business locally and nationally.
  • You will also access many community resources without worrying about housing logistics.
  • It’s another fantastic way to meet and interact with new people, get out of your horizon, and experience a new life.

Is Co-living Legal in New York City

If you arrive in New York City and you aren’t sure whether this concept is legal or not, rest assured. Co-living is perfectly legal in New York City. However, before you venture into this new trend, ensure you are familiar with residency rights. Living together with roommates is legal in the city as long as you have your own separate bedroom. Also, note that it’s prohibited to allow a new occupant into your room, whether through renting or subletting.

What are the essential rules you should look at before renting a co-living apartment in New York City

While co-living is legal in New York City, the apartment must meet specific living requirements. Before you rent a space, ensure you are versatile with the law, you won’t want to rent an illegal space to avoid the risk of being thrown out of your apartment unexpectedly by the home inspectors.

Sign an apartment lease

Ensure the lease offered to you is for the apartment, not the room you rent. Additionally, thoroughly read the lease and ensure it has a fire safety plan.

Renew the lease with every new roommate

So, for example, if a roommate leaves without making a payment, will you be responsible for paying the bills? You might think this is a simple and understandable discussion, obviously telling yourself why they think you will be accountable. Well, this can cause more problems than your expectations. To avoid any issue that might arise due to this, ensure in your lease it’s written that every individual will be responsible for their payment, and make sure with every new roommate, you get a renewed lease with all the necessary rules and regulations.

Make sure you are charged accordingly

If you are new in the industry, you should be aware of certain things. As mentioned above, you will be responsible for other utility expenses, including parking space. Be sure the landlord charges you the exact legal rent fee without additional charges.

Is co-living for you?

When you put certain essential aspects such as mental health, relationship, individual, community, and social engagement into concern, Co-living can give you many benefits, especially the ones we listed above. However, it’s essential also to note that this concept of living is not for everyone because it even comes with some downsides.

For example, one of the significant disadvantages of it is that you may find it hard to fit all your belongings inside one place or room. If you must achieve so, maybe you have to compromise some amenities and even spaces. Another disadvantage of this living method is that, even though the apartments you rent are cheap, other necessities might drain your pockets.

For example, you will be the one to fund all your utilities, and sometimes you must also shoulder your parking space fees too. Also, you may share kitchens and toilets with roommates, so conflicts are possible. However, if all these aren’t a problem and you think you can cope, then we can successfully say co-living is the best solution for you.

Final thoughts

Not everyone can afford the kind of living style they desire in this big city. However, that doesn’t mean you won’t successfully find a beautiful place to live. With the co-living style, you rent a room without encountering any problems.

Moreover, co-living has a lot of benefits, such as affordability and amenities, and you will get to meet new and exciting people. However, it still has some downsides, so ensure you are aware of what you are getting yourself into before you dive into it.

 

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About the Author

Kaya Wittenburg

Blog Author and CEO

Kaya Wittenburg is the Founder and CEO of Sky Five Properties. Since the age of 10, real estate has been deeply ingrained into his thoughts. With world-class negotiation and deal-making skills, he brings a highly impactful presence into every transaction that he touches.

He is here to help you use real estate as a vehicle to develop your own personal empire and feel deeply satisfied along the way. If you have an interest in buying, selling or renting property in South Florida, contact Kaya today.

   
Feel free to call me at: (305) 357-0635
or contact via email: [email protected]