New York Lease Agreements

A lease agreement in New York is essential for a landlord or tenant. This contract details the rental arrangement and spells out each party’s obligations within legal provisions. This way, it creates accountability and expectations between landlord and tenant.

New York Lease Agreements by Type

New York Residential Lease

New York Residential Lease Agreement

Used 4,872 times

This New York lease agreement template provides all the tips and advice you need to write your own or use our free and customizable template within minutes.

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New York Sublease Agreement

Sublease Agreement NYC

Used 4,872 times

Develop your path to success using a sublease agreement NYC template, a valuable tool crafted to safeguard the rights of both the sublessor and sublessee.

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New York Lease to Purchase 

Choose a New York Lease to Purchase agreement when structuring a comprehensive arrangement that combines leasing with the option to purchase a property

New York Room Rental

Select a New York Room Rental agreement when formalizing the terms of renting out a room in a residential property, ensuring adherence to New York’s regulations.

New York Apartment Lease 

Opt for a New York Apartment Lease agreement when creating a detailed and legally binding document for renting an apartment

Understanding New York Rental Laws

Understanding state rental laws is vital before developing and signing off on a lease agreement template in New York. While the clauses included may vary with properties and landlords, several components cut across all. 

Rent and Payment Terms in New York  

Rent Increases

• Limits exist on annual rent increases for rent-stabilized and rent-controlled apartments.
• The Rent Guidelines Board determines these limits.
• Landlords can only increase rent for major improvements that benefit all tenants, such as installing new equipment.
• Certain exemptions from rent increases are granted to disabled tenants and senior citizens above 62 years.

Receipts for Rent Payment

• Landlords in New York State are required to provide tenants with receipts when rent is paid in any form other than the tenant’s check.

Late Fees

• Property owners in the state have discretion in charging late fees.

Security Deposit Regulations

Deposit Amount

• Landlords in New York can request a security deposit equivalent to one month’s rent when entering a lease agreement.
• Upon receiving the security deposit, landlords must keep it separate from their own money.

Interest-Accruing Account

• Property owners with more than six apartments must hold the security deposit in an interest-accruing account.

Reimbursement and Usage

• At the end of the lease, the tenant is entitled to a reimbursement of the security deposit.

Landlords, however, can use the deposit to cover unpaid rent and reasonable repairs.

Duration of the Lease 

In New York, lease agreements are required for rental periods exceeding 12 months. All the same landlords and tenants are encouraged to utilize a lease agreement template for New York, even for shorter periods.  

Maintenance and Repairs  

The law in New York grants tenants a right to a livable, safe, and sanitary apartment. As such, the landlord must maintain and repair essentials such as electrical, plumbing, ventilation systems, heating, and sanitation. They’re also required to carry out repairs on provided appliances. 

Additional Clauses   

Common supplementary New York lease clauses include policies on smoking, pets, subletting, property entry, and termination for illegal activities. They may also specify responsibilities for shoveling snow, trash handling, or storage units to reduce disputes.

New York Lease Agreement Laws

Signing alease agreement template in New York raises important legal issues that need thorough consideration. You must comply with Real Property Law Article 7 and established policies such as rent stabilization and observe tenant protections.