New York Lease Agreements

Ensure that your lease is in compliance with relevant New York laws using our New York Lease Agreements templates that provide a structured framework for the rental relationship.

Key Takeaways

• 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.
• In New York, security deposits are capped at one month’s rent for unfurnished units and no more than one and a half month’s rent for furnished units. They must be returned within 14 days.
• Eviction notices typically require 30 days’ notice. Landlords must give at least 24 hours’ notice before entering the premises.
• Required disclosures include lead-based paint and bedbug history.

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.

The standard residential New York lease agreement template outlines the terms and conditions governing the rental of a residential property in compliance with state laws, encompassing details such as rent, security deposit, maintenance responsibilities, and lease duration.

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.

New York Month-to-Month Lease

Use this template when establishing a month-to-month rental agreement for residential or commercial properties in New York.

Commercial Lease Agreement

Utilize this template when leasing a commercial property in New York to establish the terms and conditions of the rental agreement between a landlord and a tenant for business purposes.

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 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.

A sublease agreement in New York allows a tenant (the sublessor) to rent out all or part of their leased premises to another party (the sublessee), typically outlining terms such as rent, duration, and responsibilities, subject to the original lease’s terms and landlord approval.

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 a lease 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.