Can You Rent Out Your New NYC Condo?

Updated Oct 27, 2026 · 10 min readShare

We searched the 2,230 NYC condo offering plans accepted for filing that we have in full text. At least 23% ban renting a unit for "transient, hotel or motel purposes" in those standard words, and at least 25% put leases under the board's right of first refusal using the phrase "first refusal to lease." Plans that say the same thing in other words aren't counted, so the real shares are higher. This is a plain-English guide, not legal advice. The rules for your building are the ones in its plan, as amended.

How Long Must a Lease Be?

Many plans set a minimum term. One year is a common one:

“The sale or lease of Residential Units is subject to a right of first refusal by the Board. Leases of Residential Units, other than Unsold Units, may not be for terms shorter than one (1) year. The Condominium Board does not have the right to approve or disapprove purchasers, and as a result, there is no limit on the number of owners who may purchase a Unit for investment rather than for personal occupancy, and there may always be a substantial percentage of Unit Owners who are non-residents.”

Madison House Condominium, 15 East 30th Street, Manhattan · plan CD180326, p. 14

The same passage makes two more points. The one-year rule doesn't apply to the sponsor's unsold units. And because the board can't screen buyers, there's no cap on how many owners buy to rent out. Some plans set a shorter minimum and limit how often you can lease:

“No Unit may be leased for a term of less than six (6) months and no Unit Owner may enter into more than one lease in any twelve month period. Section 7.2 Right of First Refusal. There is no right of first refusal, Sections 7.3 to 7.5 are deleted.”

17 West 127th Street Condominium, 17 West 127th Street, Manhattan · plan CD220272, p. 230

Others allow leases as short as 30 days, and make anything shorter void:

“No lease entered into by any Residential Unit Owner shall have a term of less than 30 days. Any Lease for a Residential Unit having a term of less than 30 days shall be void ab initio”

200 West 88th Street Condominium, 200 West 88th Street, Manhattan · plan CD250313, p. 630

So "can I rent it out?" has a different answer in each building. One year, six months and 30 days are all real minimums in NYC plans. Check yours before you count on rental income.

Airbnb and Short-Term Rentals

A ban on hotel use is one of the two leasing rules we found most often, with the board's right of first refusal. The usual wording sits in the building's rules and regulations:

“nor shall any Unit be rented for transient, hotel or motel purposes.”

517 W. 29th Street Condominium, 517 - 523 West 29th Street, Manhattan · plan CD240168, p. 391

That phrase, or the shorter "transient or hotel purposes," appears in 524 of the 2,230 plans (23%). Some plans go further and name the business models they mean:

“No Residential Unit may be used, leased or subleased for any of the following purposes: (a) leasing for a term of less than one year; (b) leasing by any so-called “executive stay” or “short term stay” company or person engaged in the business of renting or leasing units; or (c) hotel, dormitory, employee residence or facility, fraternity or sorority house, resort housing or similar type of non-permanent housing.”

Spencer Street Condominium, 175 And 192 Spencer Street, Brooklyn · plan CD180448, p. 302

129 plans (6%) name Airbnb outright. One puts it next to the rule that the board gets a copy of every lease:

“within thirty (30) days of occupancy by the tenant, the name and telephone number of the tenant, together with a clear and complete copy of the executed lease, must be furnished to the Managing Agent or if no Managing Agent to a Member of the Board of Managers of the Condominium: (g) the Residential Unit cannot be used as a motel or hotel or otherwise for transient tenants or such services as Airbnb”

199-201 Chrystie Street Condominium, 199-201 Chrystie Street, Manhattan · plan CD190039, p. 126

The law says no, too. Even where a plan is silent, New York's Multiple Dwelling Law generally bars renting a whole apartment in a building of three or more units for fewer than 30 days unless the permanent resident stays there. Since September 2023, New York City's Local Law 18 of 2022 also requires anyone hosting a short-term rental to register with the city first. A condo's rules can be stricter than the law, but never looser.

Does the Board Have to Approve My Tenant?

Usually not. That's one of the big differences from a co-op. What a condo board often has instead is a right of first refusal: before you sign, you offer the lease to the board, and it can take it on the same terms. A plan from 2024 explains it plainly:

“As is customary with condominiums generally, the Board has no right to approve or disapprove prospective purchasers (or tenants) of Units from Unit Owners. Instead, it has a right of first refusal with respect to a prospective sale (or lease) of a Unit, which right is subject to the terms and conditions described in Section 10.2 of the By-Laws. The sale or lease of Units by the Sponsor is not subject to the Board’s right of first refusal or other restriction.”

517 W. 29th Street Condominium, 517 - 523 West 29th Street, Manhattan · plan CD240168, p. 14

If the board doesn't act in the time the by-laws allow, or signs a waiver, you go ahead with your tenant. Either way it adds a step and some days to every lease. Some plans drop the right altogether, like the six-month plan quoted above. And some carve out narrow cases where the board can say no without buying or leasing the unit itself:

“However, the Board, to the extent permitted by law, has the right to reject sales and leases to Purchasers and tenants who themselves (or residents of their Units) have diplomatic immunity or have been convicted of violent crimes or child molestation without being required to exercise the right of first refusal.”

Madison House Condominium, 15 East 30th Street, Manhattan · plan CD180326, p. 14

The phrase is fading. Among plans filed 2013–2017, 48% use the words "first refusal to lease." For plans filed 2022–2026, it's 14%. That's the wording, not necessarily the right: a plan can still give the board a first refusal on a "sale or lease" in other words. The ban on hotel use has held steady or grown, from 21% to 27% in the standard words.

Lease Forms, Sublets and Fees

Expect paperwork even without an approval. Plans may require a standard lease form, a copy of the signed lease for the managing agent, or that you lease the whole unit, not a room. Your tenant can't pass the apartment on without the board:

“the tenant may not sublet the demised premises, or any part thereof, without the prior written consent of the Board of Managers;”

24-01 Queens Plaza North Condominium, 24-01 Queens Plaza North, Queens · plan CD230181, p. 132

There's often a fee for processing the lease, set by the managing agent. One plan's fee schedule reads:

“Fees for providing the services to Residential Unit Owners and applicants to purchase or lease: • Purchase or Lease Applications: $750.00”

Eastlight, 200 East 34th Street A/K/A 501 Third Avenue, Manhattan · plan CD200130, p. 203

You stay responsible for your tenant. If the tenant breaks the house rules, the board looks to you, and many by-laws let it act against a tenant who keeps breaking them.

The Sponsor Plays by Different Rules

The developer (the sponsor) often keeps the right to rent out the units it hasn't sold, free of the limits on everyone else. The 2024 plan quoted above says the sponsor's leases aren't subject to the right of first refusal "or other restriction." Another plan lets the sponsor rent for any length of time:

“The Unsold Residential Units may be leased by Sponsor, its designee or by an Owner of Unsold Residential Units for any period of time, including for less than one year, for any use and on any terms which are consistent with the then existing certificate of occupancy for the Building, and are compliant with all applicable laws.”

1122 Madison Avenue Condominium, 1122 Madison Avenue, Manhattan · plan CD240276, p. 5

This matters if you're buying a home to live in. In a building where the sponsor rents out many unsold units, you may have more renters as neighbors than you expect, and the sponsor keeps more votes on the board. See condos that share a building with rentals and what a condo board does.

How Co-ops Compare

In a co-op you own shares and hold a proprietary lease, so renting your apartment out is a sublet, and it needs the board's consent. 338 of the 339 co-op offering plans we have in full text have a page on subletting that mentions consent. One recent plan puts it in a line:

“The Proprietary Lease of the Apartment Corporation prohibits the sublet, in whole or in part, of an Apartment or a parking space without the prior consent of the Apartment Corporation.”

Contello Towers No. 2 Corporation, 2740 Cropsey Avenue And 2015 Shore Parkway, Brooklyn · plan C240001, p. 13

Co-op boards often add their own sublet policies: how long you must live there first, how many years you may sublet, and a sublet fee. If you may want to rent out your home one day, that's a reason to lean toward a condo. Condo vs. co-op in NYC covers the other differences.

How This Is Counted

We searched the full text of the NYC condo offering plans (plan IDs starting CD) that the Attorney General accepted for filing and that we have in full text: 2,230 plans. A plan counts when its pages contain the exact phrase shown, in any section, including the by-laws and the rules and regulations. Many plans word the same rule differently, so each share is a floor ("at least"), not the share of plans with the rule. Filing periods go by the year in the plan ID. Co-op plans (IDs starting C and a digit, or CC) are counted when one page mentions both subletting and consent. Quotes are verbatim from 10 plans, each linked to its PDF page.

Tips for Buyers

• Read the leasing section first. It's in the by-laws (often an article called "Selling and Leasing of Units") and summarized in the plan's "Rights and Obligations of Unit Owners." Look for the minimum term, any limit on how often you can lease, and the right of first refusal.
• Read the amendments too. Leasing rules can change by amendment or by an owners' vote after you close. Here's how to find them.
• Don't plan on Airbnb. Between the plan, the house rules and the law, short-term rental income is not something to count on in a NYC condo.
• Ask about the fees. Ask the managing agent for the current lease application and move-in fees, and any move-in deposit.
• Check your lender. Some mortgages require you to live in the home for a time. Read your loan terms before you rent.
• Think about ownership. Investors often buy in an LLC. See buying in an LLC vs. your own name.

Related: An Advisor for Your Condo or Co-op Board That Knows How Every Other NYC Building Is Run · NYC Co-ops That Don't Need Board Approval or Restrict Subletting