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New York Lease Agreement
A New York commercial lease agreement is a rental arrangement conveyed in a written contract that dictates the rights and obligations of the parties to a commercial rental property.
Commercial leases are reserved for renting out real estate that will be used by an individual or business entity for the purposes of conducting business, such as a shopping outlet, manufacturing or fabrication factory, office space, or shipping warehouse.
Due to the diversity of properties and businesses, commercial lease agreements can be more complicated than residential agreements.
Owners of property and the businesses they rent to will often hire attorneys and commercial real estate agents to help establish a fair rental agreement and negotiate the terms of the arrangement.
Lease Application – A document used to gather pertinent information on potential commercial lease applicants so the landlord can find the most suitable tenant.
Laws – Not mentioned in state statutes; however, New York City does provide a Comprehensive Guide to Commercial Leasing.
Access
There is no State law that requires the landlord to give any type of notice before entering the tenant’s space for any type of repair or non-emergency issue.
Security Deposits
Interest (§ 7-103(2-a)) – If the tenant is living in a building that has at least six (6) residential units then the landlord is required to deposit the Security Deposit into an interest-bearing account.
The benefit of the interest shall be to the tenant upon vacating the property at the end of the lease.
Maximum (Emergency Tenant Protection Act 576/74(f)) – The landlord may charge up to one (1) month’s rent.
Returning (§ 7-108 (e)) – The landlord must give the funds back within fourteen (14) days after the tenant has vacated the premises.
If there are any funds that are held by the landlord then the tenant is required to receive a list of itemized deductions.
Required Disclosures (9)
Allergen Hazards (NYC Admin Code § 27-2017.1) (NYC ONLY) – The landlord is required to make an annual inspection of indoor allergen hazards such as mould, mice, rats, and cockroaches. (NYC Admin Code § 27-2017.1)
Bed Bug Disclosure (NYC Admin Code § 27–2018.1) (NYC Only) – Landlords are required to acknowledge the existence of bed bugs in the rental unit.
Copy of Signed Lease (Tenants’ Rights Guide) (Rent Stabilized Tenants ONLY) – The landlord must give a signed copy of their lease within thirty (30) days of tenancy.
Lead-Based Paint Disclosure – Per federal law requiring all residences built before 1978 for the landlord is to issue this notice to inform the tenant of the hazardous paint within the walls and ceiling.
Security Deposit Receipt (§ 7-103) – No matter the amount, if a deposit is accepted by the landlord the name and location of the financial institution must be relayed to the tenant in writing.
Smoking Policy (NYC Admin Code 5, § 17-505) (NYC ONLY) – Buildings of three (3) or more units must have a policy outlining where smoking is prohibited.
Sprinkler Disclosure (Article 7, Section 231-A) – This must contain notice of whether or not a sprinkler system exists.
Stove Knob Covers (NYC Admin Code § 27-2046.4(a)) (NYC ONLY) – For tenants with children under six (6) years of age, the landlord must provide knob covers for gas-powered stoves.
Window Guards (NYC Admin Code § 27–2043.1) (NYC ONLY) – In the City of New York if the tenant has a child that is ten (10) years of age or younger the landlord is required to fit the apartment with window guards.
| Author | – |
| Language | English |
| No. of Pages | 11 |
| PDF Size | 3 MB |
| Category | Form |
| Source/Credits | eforms.com |
New York Lease Agreement Form PDF Free Download