Understanding AirBnB in New York City

Most condominium buildings set a minimum term length for rentals of six months or more; one-year minimum terms are most prevalent. This is intended to avoid the transient feeling of a hotel within a residential building, and to limit the wear and tear associated with moves.

The New York State Multiple Dwelling Law (MDW) restricts renting out a Class A multiple dwelling for periods of fewer than 30 days, unless you as the owner are present. This protects the hotel industry and was something they heavily lobbied for. A multiple dwelling is defined as any building occupied as the "residence or home of three or more families living independently of each other" thus it applies to the vast majority of NYC buildings.