New York Standard Residential Lease Agreement

A New York standard residential lease agreement is legally binding and must be signed by both parties. It is between a landlord and a tenant for the use of space for a one-year term and must include a start and end date. The document outlines the conditions of the contract, such as security deposit, due dates, late fees, pet policy, and other important information.

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Last updated October 25th, 2024

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A New York standard residential lease agreement is legally binding and must be signed by both parties. It is between a landlord and a tenant for the use of space for a one-year term and must include a start and end date. The document outlines the conditions of the contract, such as security deposit, due dates, late fees, pet policy, and other important information.

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Disclosures

Allergen Hazards Disclosure (NYC Only) – The landlord must provide this disclosure, which states that they are required by law to inspect the premises yearly for allergens such as mold, mice, rats, and cockroaches. (NYC Admin Code § 27-2017.1)

Bedbug Infestation Disclosure (NYC Only) – The landlord must disclose to the renter if the rental unit has previously had bedbugs. (NYC Admin. Code § 27–2018.1)

Building Smoking Policy Disclosure (NYC Only) – The landlord must include the building’s smoking policy for buildings with three or more units. (NYC Admin. Code § 17-506.1(b))

Flood Disclosure – The landlord is responsible for informing the tenant if the building is located in a floodplain or if it has ever flooded. The landlord is also required to include a flood insurance notice. (RPP § 231-b)

Lead-Based Paint Disclosure – For buildings constructed before 1978, this disclosure discusses the harms of toxic paint that may be present. (EPA/HUD Fact Sheet)

Security Deposit Receipt – Each renter must be given a security deposit receipt and know the banking institution’s name and location. (GOB § 7-103(2))

Sprinkler System Disclosure – Tenants must receive a disclosure stating whether the building has a working sprinkler system. (RPP § 231-A)

Stove Knob Covers Disclosure (NYC Only) – For renters with children under six, the landlord must provide or install knob covers on all gas-powered stoves. (NYC Admin. Code § 27-2046.4(b))

Window Guard Disclosure (NYC Only) – The landlord must install window guards in rental units for tenants with children under eleven. (NYC Admin. Code § 27–2043.1)

Rent Grace Period

In the state of New York, there is a 5-day rent grace period. If the rent is unpaid by the 6th day, the landlord may issue a 14-day notice to quit or pay. (N.Y. Real Prop. Law 238-a(2))

Security Deposit

Maximum Amount – One month’s rent is the maximum a landlord may charge for a security deposit in the state of New York. (N.Y. Gen. Oblig. Law § 7-108(1-a)(a))

Returning – The landlord has 14 days to return the security deposit after the lease ends. (N.Y. Gen. Oblig. Law § 7-108(1-a)(e))

  • Deductions – If the security deposit is deducted for any damages, the landlord has 14 days to present a list of deductions. (N.Y. Gen. Oblig. Law § 7-108(1-a)(e))
  • Tenant Doesn’t Forward New Address – If the tenant fails to give the landlord their forwarding address within 10 days of moving out, they may forfeit the deposit.