NYC Cracks Down On Short-Stay Apartment Rentals

Law360, New York (October 24, 2012, 3:08 PM EDT) -- The City of New York on Monday sued Smart Apartments LLC and its parent company Toshi Inc. in state court over their alleged illegal operation of residential apartment units as limited occupancy hotel rooms and associated violation of building safety standards.

The city's Office of Special Enforcement alleged that Smart Apartments is engaging in deceptive trade practices by marketing apartment units as de facto hotel rooms for stays of less than 30 days, despite state and local laws prohibiting so-called transient occupancies in residential buildings....
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