Is earning extra income by renting and subletting a second apartment legal for a foreign student?
I asked the same question in Law & Ethics. Here is the thing. One of my friends is a foreign student from South Korea. She entered into the States on a Student Visa, and now lives in her apartment in New York, but somehow she has also rented a small three-story building with more than 10 rooms as her "second" apartment, and literally gets cash by subletting each room to other Koreans without creating any sublease contract or paying income tax. As far as I know, she has been doing this kind of business for the past two years. It might be OK for a foreign student to make some money by subletting his/her apartment only for a short period of time, let's say, during the Summer recess or something, in order to pay the rent. However, I believe this is a totally difference case. I'm wondering if it were legal for a foreign student to earn extra income by renting and subletting a second apartment over a long period of time without paying income tax. Thank you
Renting & Real Estate - 1 Answers
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You have the right to do it,, as a person,, but finding a bank to loan you money to buy one would be tough.. In subletting like your friend you have to be careful that your lease will allow it to happen and the landlord is either fully aware of your intention or you are with a landlord that is not hands on. No it is not illegal
