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The New York residential lease agreement (rental agreement) is a written contract for the exchange of the temporary use of a residential property for regular, periodic payments (rent). Once signed by the landlord and tenant, the document becomes legally binding for both parties.

The below disclosures are required for all or some residential lease agreements in New York.

Applicable to all residential leases in New York.

All rental agreements in New York must include a conspicuous notice (written in bold face font) about whether the property has a functioning operative fire sprinkler system. If there is a system in place, the lease must include the date of maintenance and inspection. [1]

The below is an example of a disclosure to include:

FIRE SPRINKLER SYSTEM. This rental property or dwelling unit is:[ ] Equipped with a functioning fire sprinkler system[ ] NOT equipped with a functioning fire sprinkler system

For functioning systems, the maintenance history is as follows:___________________________

Applicable to any rental agreements where the landlord collects a security deposit in New York.

If a New York landlord asks for a security deposit, they must provide a written disclosure of how those security deposit funds will be kept while the tenant is renting the property.

This disclosure must include the name of the holding institution, the location of the holding, and the sum of the holding. It may also include the account number.

Download: New York Security Deposit Holdings Disclosure Form (PDF)

Applicable to 3 or fewer rental units in New York.

Before signing a rental agreement, the owner of the rental property (consisting of three or fewer rental units) shall provide conspicuous notice in bold face type as to whether a certificate of occupancy (if required by law) is currently valid.This certificate ensures that all building codes are met, fees owed to the Department have been paid, and all the paperwork has been completed.

New buildings must have a Certificate of Occupancy and existing buildings shall have a current Certificate of Occupancy. Any building that was built before 1938 is not required to have a Certificate of Occupancy, unless it has changed its use. Owners who provide the tenant with an actual copy of the valid certificate of occupancy shall be deemed to have complied.

Applicable to any rental units built prior to 1978.

It is a federal law in the United States that any home built prior to 1978 must disclose the risks posed by lead-based paints. This law requires landlords in New York to:

Download: New York Lead-Based Paint Disclosure Form (PDF)

The below lease agreement disclosures and addendums are not required by New York law. These disclosures can be helpful to include to help reduce future conflicts with tenants or reduce legal liability for landlords.

Disclosures outline the important health, safety, and property information and vary by state. If a landlord does not provide the tenant with the federally or state-mandated disclosures, they could face legal repercussions or monetary penalties.

If a landlord fails to disclose the lead-based paint hazard disclosure, they can face fines of up to $18,364 per violation. (24 CFR 30.65)

Its best to check with your local and state laws on which disclosures you must provide to your tenant.

1. Every residential lease shall provide conspicuous notice in bold face type as to the existence or non-existence of a maintained and operative sprinkler system in the leased premises.3. If there is a maintained and operative sprinkler system in the leased premises, the residential lease agreement shall provide further notice as to the last date of maintenance and inspection

For housing accommodations subject to this code, an owner shall furnish to each tenant signing a vacancy lease, a notice in a form promulgated or approved by the state division of housing and community renewal that sets forth the propertys bedbug infestationhistory for the previous year regarding the premises rented by the tenant and the building in which the premises are located

(a) The holder of a dishonored check given in payment for a consumer transaction or an account may collect from, charge, or add to the outstanding balance of the account of, the person from whom such check was received or to whom such credit was extended, a dishonored check charge of not more than the lesser of the amount agreed upon, if contracted for, or twenty dollars

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New York Lease Agreement (Free) | 2022 Official | PDF & Word

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This entry was posted on Friday, September 23rd, 2022 at 1:51 am and is filed under NYC Bed Bugs.You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.