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.
By Type
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.
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.
Laws
Overview
Rent Control: Yes
Limit on Late Fees: Yes
Late Fees in Rental Agreement: Yes
Grace Period: Yes
License Required for Landlord: No
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 (Real Prop. Law § 231-b). 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 (Real Prop. Law § 231-A).
- Copy of the signed lease. A landlord must give all rent-stabilized tenants a signed copy of the lease within 30 days (Residential Tenants’ Rights Guide).
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 (NYC Admin Code § 27-2017.1).
- 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 (NYC Admin. Code § 27-2031).
- Bed bug disclosure. A landlord must provide notice of a property’s bed bug infestation history (§ 27-2018.1).
- Smoking policy. A landlord who’s renting a building with three or more units must specify where smoking is forbidden (NYC Admin Code 5, § 17-505).
- 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 (§ 27-2046.4).
- 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. (NYC Admin Code § 27–2043.1).
- 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 (Title 42 U.S. Code § 4852d).
- 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 (N.Y. GOL § 7-103)
Security Deposit
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 (N.Y. GOB §§ 7-108).
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 (N.Y. GOL §§ 7-103).
Landlord Right of Entry
While New York doesn’t have a specific statute for landlords’ right to entry, the Residential Tenants’ Rights Guide requires landlords to provide reasonable notice before entering.
Small Claims Court
If a tenant sues a landlord for failure to return a security deposit, they can do so in small claims court for up to $10,000 (Court Acts of New York, §1801).
Sample
Our New York residential lease agreement template, which you can download as a PDF or Word file, can help you start drafting your own:
