A New York lease agreement is a document a landlord creates to rent out their property to a tenant. It includes information like the names of the landlord and tenant, a description of the property, the property’s address, pet limitations, health hazard information, and rent payment details.
Rental Lease Laws Overview
- Rent Control: Yes
- Limit on Late Fees: Yes
- Late Fees in Rental Agreement: Yes
- Grace Period: Yes
- License Required for Landlord: No
Before signing a lease, use a rental application to screen tenants and identify suitable occupants.
By Type (6)
Standard Lease Agreement
Formalizes a rental agreement between a landlord and a tenant for residential property.
Commercial Lease Agreement
Creates a landlord-tenant arrangement for renting property for commercial purposes.
Rent-to-Own Lease Agreement
Permits a tenant to buy property from a landlord after their lease term.
Month-to-Month Rental Agreement
Renews on a rolling basis without a specific end date.
Sublease Agreement
Creates an additional lease agreement while the initial tenant retains their responsibility towards the original landlord.
Room Rental Agreement
Specifies living terms and financial obligations for tenants renting separate rooms within the same property.
Required Lease Disclosures
The state of New York mandates that landlords make specific disclosures in their lease agreements, including:
- Flood risk disclosure. A landlord must provide the tenant with information about the property’s flood history and flood zone. [1] In addition to this, every residential lease must contain the following sentences:
“Flood insurance is available to renters through the Federal Emergency Management Agency’s (FEMA’s) National Flood Insurance Program (NFIP) to cover your personal property and contents in the event of a flood. A standard renter’s insurance policy does not typically cover flood damage. You are encouraged to examine your policy to determine whether you are covered.”
- Sprinkler system disclosure. A landlord must specify whether the property has a sprinkler system installed. [2]
- Copy of the signed lease. A landlord must give all rent-stabilized tenants a signed copy of the lease within 30 days. [3]
New York City requires landlords to make specific disclosures, including:
- Allergen hazards disclosure. A landlord must notify a tenant of indoor allergen hazards, including cockroaches, rats, mice, and mold, and commit to performing an annual inspection. [4]
- Anti-scald valves disclosure. A landlord must equip a property’s faucets with anti-scald valves that produce a temperature between 110 and 120 degrees Fahrenheit. [5]
- Bed bug disclosure. A landlord must provide notice of a property’s bed bug infestation history. [6]
- Smoking policy. A landlord who’s renting a building with three or more units must specify where smoking is forbidden. [7]
- Stove knob cover policy. A landlord must specify that they’ll provide stove knob covers for gas stove tops for tenants who have children under the age of six. [8]
- Window guard notice. Landlords of buildings with three (3) or more apartments must install and maintain window guards when the tenant has a child or children under the age of ten (10) living in the leased premises. [9]
- Disclosure of Lead-Based Hazards. All New York landlords of any building constructed before 1978 must notify all tenants of the potential existence of lead-based hazards. [10]
- Security Deposit Notice. Deposits collected in buildings of six or more units must be held in a New York bank account, and the landlord must notify the tenant of the name and address of the bank where the deposit will be held. [11]
Security Deposit
- Maximum Amount: A landlord cannot charge more than one month of rent for a tenant’s security deposit. A landlord has 14 days to itemize any reasons for retaining part of the security deposit or return the security deposit in full. [12]
- Receipts: Not specified.
- Interest Payments: Not required.
- Bank Account: A landlord must ensure that a tenant’s deposit will not be commingled with a landlord’s assets. Suppose the deposit is held in an interest-bearing account. In that case, the landlord will receive one percent per year in exchange for all other administrative and custodial expenses. [11]
- Returning Requirements: A landlord must return a tenant’s security deposit within 14 days of the end of the lease. [13]
- Withholding Rules: If the tenant doesn’t pay rent or utilities or damages the property beyond the reasonable living wear and tear, the landlord may subtract the amount from the security deposit. [14]
Rent Payments
- Laws: Rent in New York is due on the date specified in the lease.
- Rent Control: Rent increases of 5% or more must be provided in writing. Notice periods are as follows: 30 days for tenancies under one year, 60 days for tenancies between one and two years, and 90 days for tenancies over two years. [15]
- Late Fees and Grace Period: A late fee cannot be more than 5% of the monthly rent or $50, whichever is less. [16] Five-day grace period, If rent remains unpaid after this period, landlords can initiate eviction proceedings by issuing a 14-day notice to quit.
- Withholding Rent: If a landlord neglects their utility or maintenance duties under the lease, the tenant can pay the utility company and subtract the cost from future rent. [17]
Landlord Right of Entry
- Notice Requirements: Landlords are required to provide reasonable notice before entering unless it is an emergency. [18]
- Keys, Locks, and Security: No provisions.
Property Repairs
- Landlord Responsibilities: Landlords are required to keep rental units habitable. This means the rental property must meet basic health and safety standards and respond to repair requests promptly.
- Tenant Repairs: If a tenant fails to maintain essential utilities, which is considered “objectionable” conduct, a landlord can start eviction proceedings. The landlord must provide the tenant with 30 days’ notice before eviction. [19]
- Abandonment: No specific state-mandated limit.
Terminating a Lease
- Month-to-Month Tenancy: Either party can terminate a month-to-month tenancy by providing a 30-day written notice to the other party.
- Unclaimed Property: Landlords are not allowed to keep a tenant’s personal belongings or furniture after an eviction. [20]
Sample
Our New York lease agreement template, which you can download as a PDF or Word file, can help you start drafting your own:
