An NYC Lease Agreement in a Few Clicks
Living in New York City has lots of advantages, but finding a suitable place to stay can be a real challenge. Not only is it costly, but also the terms and conditions in an NYC lease agreement can be unreasonable.
DoNotPay can help you understand and create various legal documents, including a residential lease agreement, by providing helpful contract templates and tips on how to write a contract to best meet your specific needs.
What Is a Lease Agreement?
A lease agreement is an agreement between a:
- Landlord—A person or organization owning or managing the rental property
- Tenant—A person who lives in the rental property and pays the rent
This agreement provides relevant information about a property you would like to rent.
Once signed, it is legally binding, and you can change it if both you and your landlord agree to the proposed changes. In that case, you will need to introduce all the agreed changes into a lease amendment or a new lease agreement.
If the property you lease is not rent-stabilized or rent-controlled, you can have a verbal agreement for up to a year. Written and signed lease agreements are the best option in all cases as they offer extra security in case of disputes or arguments.
Types of Lease Agreements
A residential lease agreement is a lease created for residential rental property. This agreement sets the:
- Terms and conditions of a tenancy
- Rights and obligations of both the landlord and tenant
You can use an NYC lease agreement for different residential properties, and this agreement goes under various names.
|Type of Residential Properties||Other Names for a Residential Lease Agreement|
Another type of lease agreement is a commercial lease agreement. As the name suggests, it is used to rent commercial properties, including:
- Retail stores
- Industrial properties
Should you enter into negotiations to purchase the rental property, can help you prepare a bill of sale for this process.
What To Include in a New York Residential Lease Agreement
Your lease should use clear and common phrasing to avoid any misunderstandings. Try to make it as clear and easy as possible and include the following sections:
- Rent amount
- Date and time when the rent is due
- Length of the lease agreement, including the start and end dates
- Way to settle the rent, e.g., in cash, by credit card, check, or money order
- Terms and conditions in case your rent is late, including a late fee and eviction
- Means of delivering the rent, e.g., in person at the landlord’s business or private address
Before setting any of the above-listed items, you need to check the applicable laws in New York covering rental matters, including the following:
|Rental Issue||New York City Laws|
Demand for Rent
|The demand for rent needs to be in writing and include the following:
Notice To Raise the Rent
|The landlord needs to give the tenant a one month notice when planning to raise the rent by 5% and more|
In case you do not have a lease agreement or it has expired, you pay rent every month. This arrangement is called a month-to-month tenancy. The month-to-month NYC lease agreement involves specific conditions:
- It requires a 30-day written notice of termination
- The notice of termination needs to state that:
- The landlord wants to terminate your tenancy
- An eviction proceeding will be started unless you move out by the date set in the notice
- The landlord does not need to provide a reason for terminating your lease
If these lease types are not what you are looking for, you can check out short-term rental agreements.
Safeguard Your Activities With DoNotPay
DoNotPay can help you generate numerous agreements to secure your ongoing business or personal projects.
For your business operations, we can provide the following documents:
Your personal or family matters can be protected by a prenuptial or custody agreement, to name a few.
Here is how you can get a contract tailored to your requirements:
- Go to DoNotPay in any
- Enter the name of the document, e.g., a lease agreement
- Provide the necessary details to the chatbot, including names, addresses, and additional relevant data
In a few clicks, DoNotPay will provide you with a customized contract.
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