When renting or leasing real estate in New York State, a landlord must use a lease. The lease is best explained in New York Real Property Law article 7 § 220 – 238. For residential rentals, there are two types of rent rental and rent stabilization rules in New York State to inquire about the regulation of a dwelling, perhaps one should contact the New York State Division of Housing and Community Renewal (DHCR). This is a good example of the provisions that a simple lease can contain and what should be done in its final form. Apartment rental – For a residential unit in a building. All leases in New York must contain a striking indication (printed in bold) of whether or not a sprinkler system is capacity. If a system exists, the lease agreement must contain the maintenance and repair history. Copy of signed lease (stable tenant only) – The lessor must submit a signed copy of his lease within thirty (30) days of the lease. (Tenants` Rights Guide) Owners of buildings of three (3) or more must install window protection grilles and wait if the tenant has children or children under 10 (10 years of age) who live in the rented premises. Only for New York. (N.Y.C Health Code c. 12) New York rental agreements are written after a landlord (owner) and tenant (tenant) have orally agreed to all the terms of a lease agreement, including the monthly payment amount, and whether the tenant is responsible for paying incidental fees. Although not mandatory, the landlord should require tenants to report their previous year`s income tax information in order to determine their monthly income and see if they can afford to pay each month.
Most landlords will verify that the applicant has access to at least one-third of their net income to ensure they can cover the rental costs. Once the agreement is signed, both parties are considered a legal and binding document. Commercial Lease Agreement – A form used to lease commercial property to a business owner who plans to operate the retail, industrial, office or food business.. . .