New York Lease Agreement

How to Fill Out a Lease Agreement in New York?

Typical New York lease agreements will include the following info:

Step 1 – Parties

The document should state by whom it is made including the names and addresses of the parties.

Step 2 – Property

Next, the residential lease agreement should tell what property is being leased, where it is located, and what is included in the premises.

Step 3 – Term

The lease should specify for what term it is concluded. The start and the end date should be in this section.

Step 4 – Use of Property

The agreement has to clarify who will be using the premises. It might be the tenant only or some other people whose names should be included in the lease.

Step 5 – Rent

This section has to state that the tenant shall pay rent for the premises and specify the sum. The frequency of payments should be mentioned here too. When the payments are expected is another piece of information that should be included in the section. One more thing to specify is whether or not a notice of any kind is expected from the landlord in order for payment to be made.

Step 6 – Late Charges

Further, the agreement has to tell what happens if any rent payment is not received by the landlord within a certain number of days after the due date.

Step 7 – Security Deposit

This section is responsible for stating how much the tenant shall deposit with the landlord as a security deposit. It also has to explain where the landlord holds the security deposit and in what situations the landlord can use the security deposit.

Among common situations where a security deposit can be used by the landlord are when the payment of any rent due and owing under the lease agreement is not paid when due or to the repair or replacement of damage, other than ordinary wear and tear, caused by the tenant.

Step 8 – Condemnation

The important section to include in the New York residential lease agreement is the condemnation provision. It usually says that if all or any part of the premises is sold due to a court proceeding, the lease terminates and the tenant gets the portion of any prepaid rent.

Step 9 – Casualty Loss

It says that if the Premises are damaged or destroyed by fire or another casualty without any negligence from the tenant, the agreement ends and the tenant should get the remainder of the prepaid rent.

Step 10 – Breach of the lease

This clause should touch on the actions expected of the tenant if they default on the agreement. It should mention that the landlord is expected to inform tenants about the breach of the contract in the form of a written notice before the termination of the contract and making the tenant quit the premises.

Step 11 – Surrender Of Premises

This part of the agreement should say what constitutes the tenant’s surrender of the premises and in what condition should they be after the lease expiration or termination.

Step 12 – Severability

Usually, this clause says that if any of the provisions of the agreement is invalid, it does not affect the rest of the provisions in the lease.

Step 13 – Successors and Assigns

The agreement according to this provision should be binding for landlords’ successors and assigns. However, the tenant needs a written notice if they want to assign anyone else.

Step 14 – Notices

This part of the lease has to specify what lease is expected of either of the parties and what constitutes the delivery.

Step 15 – Entire agreement and amendments

The idea of this provision is that all the conditions are listed in the current agreement and any changes to it can be brought only by the mutual agreement of the parties reflected in writing.

Step 16 – Counterparts and governing law

The last section has to tell the number of the counterparts of the rental agreement that should be created and what laws regulate this lease contract.

Step 17 – Signatures

Signatures of both parties should be present on all counterparts of the signed lease agreement.