The most commonly used New York lease agreements are a standard residential lease agreement (usually written for a term of one year), a month-to-month lease agreement, a lease to own agreement, a roommate agreement, and a sublet agreement. Commercial leases are also common in New York.
We’re going to look at the information required to write a standard New York lease agreement since it is the most commonly used residential lease agreement. Remember that if you write your own, you must comply with New York landlord-tenant law. If you’re in New York City, there are other requirements you must include outside of outlining the rent and basic responsibilities.
The basic information for a standard New York lease agreement is:
All New York lease agreements should be signed and dated by both the landlord and the tenants.
There are several disclosures that must be included in a New York lease agreement. If the residential unit is in New York City, landlords are required to disclose the existence of bed bugs to tenants. New York City landlords are required to fit the windows of the unit with window guards if the tenant has a child who is ten years of age or younger if the property has three or more units. The landlord must provide a signed copy of the lease to the tenant within 30 days of the tenant moving into the property. The landlord must disclose to the tenant in writing the name and the address of the bank where the security deposit is held.
Federal law states that if a residential building is built before 1978, landlords must provide a disclosure about the possible existence of lead based paint.
If the tenant moves into a property that has at least six units for residents, the landlord must hold the security deposit in an interest bearing account. The interest must be paid to the tenant at the end of the lease when the deposit is returned. There is no state law that caps the amount that a landlord may request as a security deposit. However, the landlord must return the security deposit in a "reasonable" amount of time when the lease ends.