8. Know the rules in your city
As a short-term rental property, you must be aware of the specific rules which govern your city or state. In some regions like New York City, short-term rentals that do not last at least 29 days are not allowed whatsoever; breaking this rule may lead to significant penalties that you’ll have no choice but to pay. Similarly, if you do not own your property, you may face eviction if you sublet your space through a short-term rental. It is important to understand the specific challenges faced by offering short-term rentals in your city to avoid these drastic consequences.
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