If you`re a first-time tenant, or even an experienced renter, signing a lease agreement is an essential part of the rental process. A lease agreement is a legally binding document that outlines the terms of your tenancy and your responsibilities as a tenant.
In New York, all lease agreements must adhere to state and local laws. To help you get started on drafting your lease agreement, we`ve provided a sample lease agreement for NY.
This lease agreement is for a one-year lease agreement for a residential property in New York and is to be used as a guideline only. It is essential to consult a legal professional to ensure that your lease agreement complies with all applicable laws.
Sample Lease Agreement for NY
Parties
This lease agreement is made between [landlord’s name] (the “Landlord”), and [tenant’s name] (the “Tenant”).
Property
The Landlord agrees to lease the property located at [property address] (the “Property”) to the Tenant.
Term
The lease term will begin on [start date] and will end on [end date].
Rent
The Tenant agrees to pay the monthly rent of [rent amount] due on the [due date] of each month. Rent payments shall be made to the Landlord at [address], or as otherwise specified by the Landlord.
Security Deposit
The Tenant shall pay the Landlord a security deposit of [security deposit amount] upon signing this lease agreement. The Landlord shall hold the security deposit as a pledge against any damages or unpaid rent caused by the Tenant.
Utilities
The Tenant shall be responsible for paying all utilities, including but not limited to electricity, gas, water, and cable/internet.
Maintenance and Repairs
The Tenant agrees to keep the Property in good condition and to report any necessary repairs to the Landlord in a timely manner. The Landlord shall be responsible for making any necessary repairs to the Property caused by normal wear and tear.
Termination
After the initial lease term has ended, the lease agreement will automatically renew on a month-to-month basis unless the Tenant or Landlord provides written notice of termination at least thirty (30) days before the end of the current term.
Governing Law
This lease agreement shall be governed by the laws of the State of New York.
Amendments
This lease agreement may only be amended in writing and signed by both the Landlord and Tenant.
Entire Agreement
This lease agreement constitutes the entire agreement between the Landlord and Tenant and supersedes any prior agreements, oral or written, relating to the Property.
Conclusion
A lease agreement is an essential document for both landlords and tenants. It helps to establish clear communication and expectations while protecting both parties. Remember to consult with a legal professional to ensure that your lease agreement complies with all applicable laws.