New York Residential Lease Agreement
New York caps a security deposit at one month's rent, returned within 14 days. Create your free New York lease agreement template. Attorney review available.
Introduction
A residential lease agreement is a legally binding contract between a landlord and a tenant that sets out the rent, the term, the security deposit, each side's responsibilities, and how the tenancy ends. In New York the landlord (lessor) and tenant (lessee) are bound by the tiered protections of the Housing Stability and Tenant Protection Act of 2019, layered on top of New York General Obligations Law Article 7 and Real Property Law Article 7. A security deposit cannot exceed one month's rent, except for a seasonal-use dwelling, and the money stays the tenant's own, held in trust and never mixed with the landlord's personal funds under Gen. Oblig. Law Section 7-103. Within 14 days after the tenant moves out, the landlord must return the balance along with an itemized statement of any deductions (Gen. Oblig. Law Section 7-108). Every New York lease must disclose, in bold type, whether the unit has a working sprinkler system (Real Prop. Law Section 231-a) and the property's flood history and flood-zone status (Real Prop. Law Section 231-b), on top of the federal lead-based paint disclosure for pre-1978 housing. There is no statewide statute fixing how much notice a landlord must give before entering an occupied unit; that comes from the lease, local law, and general reasonableness. Attorney review is available as an option before either party signs.
Key Things to Know
- 1
A residential lease agreement is a legally binding contract that sets the rent, term, security deposit, and each side's responsibilities for renting a home or apartment, and spells out how the tenancy ends.
- 2
New York caps a security deposit at one month's rent, except for a seasonal-use dwelling. The deposit is held in trust, kept separate from the landlord's own money, and the landlord must give the tenant written notice of the bank holding it (N.Y. Gen. Oblig. Law Section 7-103). The landlord must return the balance, with an itemized statement of any deductions, within 14 days after the tenant moves out (Gen. Oblig. Law Section 7-108).
- 3
Every New York lease must disclose, in bold type, whether the unit has a maintained and operative sprinkler system and its last inspection date (N.Y. Real Prop. Law Section 231-a), plus the property's flood history and flood-zone status with notice that FEMA flood insurance is available (Real Prop. Law Section 231-b), on top of the federal lead-based paint disclosure for housing built before 1978.
- 4
New York has no statewide statute setting how much advance notice a landlord must give before entering an occupied unit. Entry terms come from the lease itself, local law such as New York City rules, and a general reasonableness standard.
- 5
A landlord cannot charge a late fee until rent is at least 5 days overdue, and even then the fee cannot exceed the lesser of $50 or 5% of the monthly rent (N.Y. Real Prop. Law Section 238-a). This grace period is the tenant's protection against back-dated or oversized penalties.
- 6
To end a month-to-month tenancy, or to raise the rent by 5% or more, a landlord must give written notice of 30 days if the tenant has occupied the unit under 1 year, 60 days for 1 to 2 years, and 90 days for over 2 years (N.Y. Real Prop. Law Section 226-c).
- 7
New York has no statewide cap on market-rate rent, but the Good Cause Eviction Law automatically applies in New York City, and in other municipalities that opt in, creating a rebuttable presumption that a rent increase above roughly the local CPI plus 5%, or 10%, whichever is lower, is unreasonable (RPL art. 6-A).
Key decisions before you file
Before you file a Residential Lease Agreement in New York, a few decisions shape the document: which option to choose and what each one means. The Residential Lease Agreement guide walks through them.
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New York Requirements for Residential Lease Agreement
A New York security deposit cannot exceed one month's rent, except for a seasonal-use dwelling unit. The deposit stays the tenant's money, held in trust and never mixed with the landlord's personal funds, and the landlord must notify the tenant in writing which bank holds it (N.Y. Gen. Oblig. Law Section 7-103).
Within 14 days after the tenant vacates, the landlord must give the tenant an itemized statement of any deductions and return the remaining deposit balance (N.Y. Gen. Oblig. Law Section 7-108).
Every New York residential lease must state, conspicuously in bold face type, whether the unit has a maintained and operative sprinkler system and, if so, the date it was last maintained or inspected (N.Y. Real Prop. Law Section 231-a).
Every New York residential lease must disclose the property's flood history and current flood-zone status, including whether it lies wholly or partly in a FEMA-designated floodplain, plus notice that flood insurance is available through FEMA's National Flood Insurance Program (N.Y. Real Prop. Law Section 231-b).
New York has no statewide statute fixing how much advance notice a landlord must give before entering an occupied unit. Reader caution: entry terms come from the lease itself, any local law such as New York City rules, and a general reasonableness standard, so spell out a specific notice period in the lease.
A New York landlord cannot charge a late fee until rent is at least 5 days overdue, and even then the fee cannot exceed the lesser of $50 or 5% of the monthly rent (N.Y. Real Prop. Law Section 238-a).
To end a month-to-month tenancy, or to raise the rent by 5% or more, a landlord must give written notice of 30 days if the tenant has occupied the unit less than 1 year, 60 days for 1 to 2 years, and 90 days for more than 2 years (N.Y. Real Prop. Law Section 226-c).
Every New York lease carries a non-waivable implied warranty that the unit is fit for human habitation (N.Y. Real Prop. Law Section 235-b). New York has no statewide rent cap, but the Good Cause Eviction Law automatically applies in New York City, and in other municipalities that opt in, creating a rebuttable presumption that a rent increase above roughly the local CPI plus 5%, or 10%, whichever is lower, is unreasonable (RPL art. 6-A).
Frequently Asked Questions
A New York residential lease should name the landlord and tenant, describe the rental address, set the term and rent due date, and state the security deposit amount, which cannot exceed one month's rent. It must also carry New York's required disclosures: a bold-type sprinkler system statement, the property's flood history and flood-zone status, and, for pre-1978 housing, the federal lead paint disclosure. The implied warranty of habitability applies automatically and cannot be waived.
New York caps a security deposit at one month's rent, except for a seasonal-use dwelling unit. The deposit remains the tenant's money, must be held in a trust account separate from the landlord's personal funds, and the landlord must notify the tenant in writing which bank holds it (N.Y. Gen. Oblig. Law Section 7-103). The landlord must return the balance, with an itemized statement of deductions, within 14 days after the tenant vacates (Gen. Oblig. Law Section 7-108).
Yes. A free New York lease agreement template is available to generate and customize with your rental details. Attorney review is available as an optional add-on if you want a licensed attorney to check the lease before you sign, starting from $39.99/mo.
No. A New York residential lease does not need to be notarized or witnessed to be valid. Both the landlord and tenant simply sign the document. Notarization only becomes relevant for related documents, such as certain lease-related affidavits or a recorded memorandum of lease, which most residential leases never require.
New York has no statewide statute that sets an advance-notice period for a landlord entering an occupied unit. Absent a stricter local rule, such as New York City ordinances, notice obligations come from the lease terms themselves and a general reasonableness standard, except in a genuine emergency. Because the rule is not fixed by state law, it is best to spell out a specific notice period in the lease.
New York requires, in bold type, a statement of whether the unit has a maintained and operative sprinkler system and its last inspection date (Real Prop. Law Section 231-a), plus a disclosure of the property's flood history and current flood risk, including whether it sits in a FEMA-designated floodplain (Real Prop. Law Section 231-b). Add the federal lead-based paint disclosure for housing built before 1978, and written notice of the bank holding the security deposit (Gen. Oblig. Law Section 7-103).
To end a month-to-month tenancy in New York, or to raise the rent by 5% or more, the landlord must give tiered written notice: 30 days if the tenant has lived there less than 1 year, 60 days for 1 to 2 years, and 90 days for more than 2 years (N.Y. Real Prop. Law Section 226-c). In New York City and other covered municipalities, the Good Cause Eviction Law also limits how much the rent can rise and when a lease can be non-renewed.
Yes. A New York landlord cannot charge a late fee unless rent remains unpaid 5 days after the due date, and even then the fee is capped at the lesser of $50 or 5% of the monthly rent (N.Y. Real Prop. Law Section 238-a). A lease that tries to charge more, or charges before the grace period ends, conflicts with this statute.