New York rental/lease agreements

 If you own real estate in New York, you can use the New York lease agreement templates to create a contract to lease your property to an intending occupant. A lessor may ask for a fee to carry out an income report on the potential lessee using a rental application that allows the property owner to ascertain the tenant’s employment status and background information. At the point of approval, the lessee may be required to pay a security deposit, one month’s rent, and other fees that may be required. 

New York rental/lease agreement templates

New York rental/lease agreements

6 types of New York lease agreements:

Commercial Rental Lease Agreement  – This is the lease agreement used when a landlord rents out a premises for commercial use. It’s much more variable than a standard residential lease and also requires the tenant to pay for more of the expenses such as insurance and maintenance.

Monthly Rental lease Agreement – This is a lease used when the tenants occupy the premises in one-month intervals. It can be canceled by either the landlord or the tenant with thirty days notice.

Rent-to-Own Rental Agreement – A lease that allows the occupant to acquire the property at a later date as long as certain conditions are met. These conditions can vary widely depending on the needs of the tenant and the requirements of the landlord.

Roommate Lease Agreement – For creating an accord between occupants of a shared housing arrangement over obligations on the property.

Standard Residential Rental Agreement – A typical residential contract with a start and end date that usually lasts for one year.

Sublease Agreement – A type of tenancy where the active tenant enters into a lease agreement with a different tenant. The landlord’s consent is usually required. There are two major types- a commercial sublease and a residential sublease.

Nine disclosure requirements

Hazards (NYC Admin Code § 27-2017.1) (NYC ONLY) – The lessor must make a yearly check of hazards such as rodents, mold, and insects. (NYC Admin Code § 27-2017.1)

Bed Bug Disclosure (NYC Admin Code § 27–2018.1) (NYC Only) – The lessor must inform occupants of the presence of bed bugs in the dwelling.

Copy of Signed Lease (Tenants’ Rights Guide) (Rent Stabilized Tenants ONLY) – The lessor is required to issue a signed copy of their rental agreement within thirty days of occupancy.

Lead-Based Paint Disclosure – As stipulated by law, requiring lessors to provide notice to occupants, provided that the building was constructed before 1978, of the existence of this lead-based paint inside the premises.

Security Deposit Receipt (§ 7-103) – If a security deposit is made by the lessee and accepted by the lessor, the name and location of the bank where the funds are stored are required to be provided to the lessee.

Smoking Policy (NYC Admin Code 5, § 17-505) (NYC ONLY) – A smoking policy must be made available outlining areas where smoking is forbidden for buildings of three or more dwelling units. 

Sprinkler Disclosure (Article 7, Section 231-A) – The disclosure of the existence of sprinklers in the dwelling. 

Stove Knob Covers (NYC Admin Code § 27-2046.4(a)) (NYC ONLY) – For occupants with kids that are under the age of six years, the lessor is required to issue knob covers for gas cookers.

Window Guards (NYC Admin Code § 27–2043.1) (NYC ONLY) – In the City of New York if an occupant has a kid that is ten years of age or younger the lessor must retrofit the apartment with window guards.

Access to property

There are no laws that demand property owners to give notification to the lessee before accessing their dwelling for repairs or maintenance and other non-emergency reasons.

Money deposited as security

Interest (§ 7-103(2-a)) – For buildings with a minimum of six dwelling units, the lessee’s Security Deposit must be lodged in an interest-yielding bank account by the property owner. The generated interest shall be to the enjoyment of the lessee when vacating the dwelling at the termination of the rental contract.

Maximum rent (Emergency Tenant Protection Act 576/74(f)) – A property owner may demand a maximum of one month’s rent.

Returning (§ 7-108 (e)) – The lessor is required to return funds to the occupant within fourteen days after exiting the property. If any funds are withheld by the lessor, the lessee has to be provided with a list of items subtracted.

Download our free New York rental/lease agreements in an instant to create a legally binding document.

Download our free New York rental/lease agreements in an instant to create a legally binding document.

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