Make a New York Lease Agreement

Most Commonly Used New York Lease Agreements

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 sublease agreement. Commercial leases are also common in New York.

All of the commonly used New York lease agreements rely on the same clauses to function. However, they also have some of their own features. Here are a couple of examples.

• A roommate agreement is a type of residential lease agreement. It has all of the same clauses of a residential lease, but it also explains which areas of the rental can only be used by the roommate and which areas of the rental may be used by all of the occupants.
• A standard residential lease agreement is generally written for a one year term. At the end of that term, it may renew for another year or it may convert to a month-to-month lease. Yet, both a standard residential lease agreement and a month-to-month lease agreement have similarities. One of the most common ones is the requirement of a 30-day written notice to move out if either party plans to end the agreement at the end of the term.

How to Write a New York Lease Agreement

New York lease agreements must adhere to New York landlord-tenant laws. If they don’t, they are unenforceable. There are a lot of different laws that you must consider. You’ll learn more about many of them under the sections related to disclosures and security deposits.

Before you sign a New York lease agreement, make sure you read the terms. You also have the right to have an attorney review a New York lease agreement before you sign it.

A New York lease agreement needs:

• Names of Parties - This is the landlord’s full name or the property management company’s legal business name and the legal name of the tenant(s).
• Property Address - This is the street address for the rental property, including the city, zip code,and, if applicable, the lot or unit number.
• Term Information - This is the type of lease agreement the parties agree to enter into.For example, a month-to-month lease or a fixed term. A fixed-term lease means that the parties agree that the tenant will hold possession of the space for a certain amount of time, usually one year. If it is a fixed lease, this section should include the date the lease will end.
• Rental Amount - This section includes the date the lease will begin, the amount of the monthly rent, the day of the month that rent is due, and the address where the rent may be paid.
• Late Fee - This section documents the amount of the fee that is due if the rent is not paid by a certain date.
• Security Deposit - This is the amount of money that must be paid in advance of the tenant taking control of the property. A security deposit is used to repair damages caused by the tenant.
• Initial Payment - This is the total amount of money that the tenant must pay to move into the rental property or unit. This should include the amount of the first month’s rent, the security deposit, and the total of the two numbers added together.
• Occupants - This section includes the full name of each tenant even if they are a minor or are not signing the lease. This part of a New York residential lease agreement establishes who will reside in the residential unit. For commercial space leases, it designates those who have permission to use the space. If the presence of additional occupants changes the price of the unit, it should be included in this space.
• Utilities - This section explains which utilities or services a tenant does not pay.
• Parking - this section informs the tenant if they will receive a parking space. If the parking space is reserved and if there is a designated spot, the spot should be listed in this section.
• Furnishings - This section tells tenants what they are allowed to install (such as a washing machine or dishwasher) or what they may not install. If the tenant is not allowed to bring their own appliances, that should also be designated in this section.
• Notices - This section documents the names of the landlord or property manager and tenant along with their mailing address. This information is used if the parties need to send out a notice to the other party.
• Eviction - This informs tenants how eviction would be carried out in the event of nonpayment or a breach of other lease terms.
• Additional Terms - This section lists any other terms the parties agreed to include that haven’t been included in any other section of the lease agreement.
• Signature and Date - The document should be signed and dated by all parties.

Which Disclosure Belong in a New York Lease Agreement?

New York State law requires several disclosures to 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.

What You Need to Know About New York Lease Agreement Deposits

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.