New York · Chapter 08 of 26

Leases and Landlord-Tenant Law

Lease requirements, types of leases, New York's 2019 tenant protections on deposits, fees and notices, subletting and roommates, rent stabilization basics and the NYC FARE Act.

20-minute read · Built for the Salesperson Exam

demising clauseStatute of Frauds (leases over one year)plain languagegross, net and percentage leasessecurity deposit (one month, 14 days)late fee ($50 or 5%)$20 screening fee30/60/90-day noticeswarranty of habitabilitysublet vs. assignmentroommate lawrent stabilization and HSTPA 2019constructive evictionFARE Act

Lease Basics

A lease is both a conveyance of a leasehold estate and a contract, so the law of contracts governs its making and enforcement. A valid lease needs competent parties, a demising clause (the landlord 'lets' or 'demises' the premises to the tenant), a description of the premises, a clear term, the rent and how it is paid, and signatures. Leases for more than one year must be in writing under the Statute of Frauds; a lease does not need to be notarized unless it will be recorded. Residential leases must be written in plain, everyday language. Unless the lease says otherwise, rent is due at the end of the period (in arrears), which is why leases almost always require rent in advance. Use clauses matter in commercial leases: 'for no other purpose' is far narrower than 'any lawful purpose.'

N.Y. Gen. Oblig. Law §5-703; §5-702

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