Oct. 20th, New York City
CAI Educational

2 Topic Seminar

AIRBNB – What to do if your building has a problem or develops one in the future.

Legal and financial issues which are affected by Board Members’ fiduciary duties

This event has been moved to Nov. 9th.
October 20th • 5:30pm – 7:30pm
Madison Square Tavern
150 West 30th St, at 7th Ave
New York, NY 10001
AIRBNB – What to do if your building has a problem or develops one in the future.
AirBNB allows owners and even tenants to easily list their residences for short-term rentals, even for one night. They can offer to rent the entire unit, or just a room. There is currently no cost to open an AirBNB account. This has created major headaches for boards and management. Boards who want to put into place restrictions that disallow short-term or even one night rentals need to be careful not to restrict the right of residents to have guests. Board needs to evaluate and update their bylaws to address this new trend in order to keep their buildings safe and peaceful. 
  • What kind of restrictions can boards put into place in regard to short-term renters?
  • What’s the difference between an owner who is renting their unit for night and a hotel?
  • How can boards determine whether or not a “guest” is indeed really a AirBNB lessee?
  • Do boards have the right to contact “guests” directly to determine if they are indeed really guests or paying AirBNB lessees?
  • Are boards allowed to monitor the AirBNB site in order to catch offending leasers?
  • Can boards limit how many guests a resident may have over a certain time period?
  • Can board speci cally deny residents from advertising their residences on the AirBNB site?
  • How does AirBNB differ from residents who desire roommates? 
Speaker: Steven Lasser, The Lasser Law Firm
Fiduciary Issues

Legal and financial issues which are affected by Board Members’ fiduciary duties: What is the standard of review of board decisions; things a Board Member should to do to avoid breaching his/her fiduciary duty; does the Board owe a fiduciary duty to purchasers; the effect of a board member’s fiduciary duty on accounting issues, such as proper budgeting, instituting maintenance increases, contract bidding and related items.

Marc Schneider, Schneider Mitola LLP
Woody Goldstein, Prager Metis CPAs, LLC
No charge for board members and managers.
$100 charge for CAI business partners.
$250 charge for Non-CAI vendors.
No charge for CAI Big Apple sponsors.


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