Renting out a basement can be an excellent way to collect a little extra income from what might have otherwise been unused space. However, not all basements can be rented out legally because of restrictions set by the Department of Buildings and Housing Preservation and Development. This post assumes that your basement meets basic requirements for habitation (click here to learn what those requirements are). More Info
The New York City Building Code prohibits apartments smaller than 400 square feet, yet you can rent apartments half that size. What gives? Aren’t those apartments illegal?