New York Standard Residential Lease Agreement
The New York Residential Lease Agreement is a contract that covers the rights and obligations of a tenant that will be renting a NY apartment, condominium, or home. Understanding New York’s rental laws, as well as limits on what landlords can and cannot do, is essential for avoiding conflict and / or legal trouble during the lease term. To start, there is no limited amount to what can be charged for a security deposit, there is no required amount of notice before a landlord can enter a rental (although some sort of notice should be given), and landlords can up the rent without notice (so long as it is at the end of the lease term). For a more detailed picture of leasing in New York, check out the Tenant’s Rights Guide.
Tenant Screening: New York Rental Application
Maximum Security Deposit: No max established by state law.
Permitted Deposit Deductions: Landlords can make deductions from the security deposit for two (2) reasons:
- To cover any unpaid rent, and
- Repair damages that did not result from standard wear and tear.
Returning Security Deposits: No required amount of time set by NY law. However, landlords should make an effort to return them in a reasonable time to avoid confrontation and ill-will.
Rent Increase Notice: No statute; landlords can give tenants a notice of their choosing before raising the rent.
Required Notice before Entry: Not covered in the state’s lease law. The standard notice given by landlords is twenty-four (24) hours.
New York Real Estate Board Apartment Lease
Real Estate Board of NY Standard Form Apartment Lease (Form A1/88/A).pdf – Created by the state’s real estate board, this official document requires little, to no editing and can be used once a tenant has successfully passed a series of screening checks and is ready to enter into a binding lease. The contract is specifically for use with apartments and conforms to all requirements set by NY lease law.