What are the Most Commonly Asked Questions About Rental Contracts in New York?
Frequently Asked Questions about Rental Contracts in New York: Tenants and Landlords2 min read
If you are a tenant or a landlord renting a property in New York, it is important to know the answers to frequently asked questions about rental contracts. Not only will this ensure that your rights are protected, it will also help you avoid any potential legal or financial difficulties. Currently, rents in the state of New York are regulated by several different laws; this article will address some of the more commonly asked questions about rental contracts in the state.
To ensure that you are well-informed about the process, here are a few of the frequently asked questions about rental contracts in New York:
What is the term limit for a rental lease?
The period of tenancy in the state of New York is generally going to be determined by the type of rental agreement that is in place. A periodic tenancy can be established, in which a tenant pays rent each month or other defined period. In this case, either party can terminate the tenancy with proper notice. A lease or fixed-term tenancy, however, may have a duration set for it, such as one year. Generally, the lease is binding and continues beyond the initial lease term until either party is able to provide the appropriate notice.
Can a landlord require a security deposit?
In the state of New York, a landlord is generally able to require a security deposit. The exact amount that can be charged is often limited by local regulations; in New York City, for instance, landlords are generally limited to a one-month security deposit and any additional fees associated with the establishment of the tenancy. It is important to note that any deposits that are taken are not allowed to be used for any other purposes than those specified in the lease agreement, such as unpaid rents or damages to the property.
What are a tenant’s rights to make repairs and improvements?
In many cases, tenants have the right to make certain repairs and improvements to the property that is being rented. A tenant is generally able to request that repairs are made as long as said repairs are either required by building, health, or safety standards, or are required to maintain the rental property in basic livable condition. Depending on the exact language of the lease agreement, a tenant may also be able to make certain changes or improvements to the property; the landlord, however, may require that the tenant return the property to its original condition upon the conclusion of the tenancy.
What happens if a tenant fails to pay rent?
In the state of New York, if a tenant fails to pay rent on time, the landlord is allowed to begin the eviction process. Generally, a three-day notice to pay rent or vacate is sent to the tenant. If the tenant does not comply with the notice, the landlord may then begin the process of filing a notice of petition in court to begin the eviction process. New York law also allows landlords to pursue a monetary judgment against the tenant for any unpaid rent.