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AIR BNBNov 25, 2014

Airbnb is illegal in NYS/NYC. When it comes to your residential building, no-one has vetted the visitor as a Board would do on a sublease or roommate scenario, no one is watching out for the shareholders. The renter is often not in Residence so they cannot oversee their guest's behavior either. You have no idea who or what your neighbors have rented to, for how long etc. They are, if this is in a Coop, in breach of the houseguest, sublease & roommate rules of the Proprietary Lease /Bylaws etc. In the event of a bad choice and a situation, the Coop could be liable for the burglary, assault, rape or death/injury of a shareholder by the illegal renter. With no information to track or chase them down. The background check by Airbnb is minimal. It is bad news, high risk, and has no upside for anyone other than the renter who makes some money, which was not part of the purchase agreement when buying shares in the Coop. For serial Airbnb renter, it is now a non-resident shareholder turning their apartment into an SRO mini-hotel, not the same as a Board controlled sublease at all.

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