When two individuals or entities (also referred to as parties) decide to conclude a deal tied to space renting, this deal is usually accompanied by several documents in the United States. A lease agreement is a vital document that two parties sign when conducting such a deal.
This document has a template similar to a contract and involves essential information about the rental deal. It normally includes the amount of money to be paid as rent, description of the rented property, personal details of the parties, and other features and conditions. The person or entity that owns space is called a landlord or an owner. Another side that is receiving space for some time is a renter (or a tenant).
A rental agreement is essential if the renter and the owner want to be legally protected. To download a template of such an agreement in New York and easily complete it, you may use our form-building software.
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Every state has its own laws and rules that regulate relations between sides when renting space. In New York, this topic is covered in the Consolidated Laws of New York, “Real Property” Part, Article 7.
Some information is also available in other articles of this part and in the following part called “Real Property Actions and Proceedings.”
When a tenant leaves the leased real property, the landlord has to return the security deposit back in no more than 14 days or two weeks, as stated in Article 7, Section 7-108.
The maximum amount of a security deposit is equal to the amount of one month’s rent as prescribed by the ETP Act.
Laws of New York do not prescribe notifying a tenant if they need to access the property or an emergency case. However, parties might include this condition in the agreement.
In New York, there is a broad list of disclosures that parties have to acknowledge and accept when concluding a leasing deal. This list comprises:
Bedbugs disclosure. If there are bedbugs in the rented premises, the owner should notify the tenant.
Lead-based paint disclosure. This is a common disclosure to acknowledge in the US when concluding a rental deal. If the rented house was constructed before 1978, it is applicable.
Allergen hazards disclosure. Every year, the owner should organize an inspection that may reveal the existence of mold, mice, and other dangerous elements in the rented property.
Policy of smoking. For some buildings, it is necessary to create such disclosure to claim where the tenant may or may not smoke.
Window guards. In case the renter has children (or even one child) no more than ten years old, the owner has to install window guards on the rented property’s windows.
Sprinkle disclosure. This disclosure reveals if there is a sprinkling system in the leased space or not.
Signed lease copy. If a contract implies stable rent payments, the owner should provide the tenant with a copy of the rental agreement in no more than 30 days.
Stove knob covers. Similar to window guards, if the tenant has children that are under six years old, stove knob covers should be installed for additional protection.
Receipt of the security deposit. Regardless of the security deposit sum, the tenant should receive a receipt with details about the financial institution through which the deposit was made.
Common Types of Lease Agreements in New York
In general, lease agreement templates look similar in all of the states. However, there are different types of rental agreements that serve different purposes. For example, while some templates are applicable for commercial lease deals, others regulate parties’ relations when renting an apartment.
In New York, there are no less than 11 possible templates of lease agreement:
Room rental (or roommate) agreement
Lease agreement with options to buy the rented space
Apartment rental agreement
Condominium rental agreement
Commercial office rental agreement
Commercial retail rental agreement
Month-to-month rental agreement
Real estate board of New York rental agreement
The standard agreement of lease
Letter of termination of the rent.
In New York, there are various types of rental agreements. When you decide to create this document, pay attention to the template you are downloading.
Download your fillable New York Rental Lease Agreement template in PDF.
With over 25 years of experience as a business and transactional attorney, Jennifer has mastered the craft of closing highly successful deals for her clients. Through her wide-ranging expertise in commercial contracts, real estate transactions, M&A and corporate law, Jennifer secures results that are second-to-none.