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.
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)
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).
Our New York residential lease agreement template, which you can download as a PDF or Word file, can help you start drafting your own: