If its a high profile location, like the Manhattan Club as an example, there is a higher risk. An ordinary exchange can usually be rented safely as long as it is a 1 time deal. If you rent multiple times, you chances of getting caught increase. Where you advertise you rental also increases your risk. If you can arrange a private rental without using the internet, you won't get caught.....
I have plenty of experience and I rented alot of exchanges before I was caught.... They did close my account and cancel pending reservations.....