New York City Residential Apartment Lease Agreement Template

RESIDENTIAL APARTMENT LEASE AGREEMENT

NEW YORK CITY (STABILIZED / NON-STABILIZED)

Document Control:

• Effective Date: [Effective Date]
• Version: 2024.1-NYC
• Jurisdiction: State of New York, County of [County Name], City of New York

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1. LEGAL NOTICE & DISCLAIMER

DISCLAIMER: This template is provided for informational and structural purposes only and does not constitute formal legal advice. New York City and State housing laws (including the Housing Stability and Tenant Protection Act of 2019 - HSTPA) are complex and subject to frequent legislative and judicial changes. Landlords and Tenants are strongly advised to retain competent legal counsel licensed in the State of New York to review and customize this document prior to execution.

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2. PARTIES & DEFINITIONS

This Lease Agreement ("Lease") is entered into as of [Date], by and between:

• Landlord: [Landlord Full Legal Name / Corporation Name], having a principal place of business at [Landlord Street Address, City, State, Zip] ("Landlord"), and
• Tenant(s): [Tenant 1 Full Legal Name] and [Tenant 2 Full Legal Name] ("Tenant").

Premises Definition:

• Building Address: [Street Address], New York, NY [Zip Code]
• Apartment Number: [Unit Number] ("Premises")
• Permitted Use: Strictly private residential housing for the Tenant(s) and immediate family members only. No commercial use, short-term rentals (e.g., Airbnb), or subletting without explicit written consent is permitted.

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3. TERM & RENT PROVISIONS

3.1 Term of Lease

• Commencement Date: [Start Date]
• Expiration Date: [End Date]
• Term Length: [Number] months.

3.2 Rent & Payment Terms

• Monthly Rent: US $[Amount] due on or before the first (1st) day of each calendar month.
• Payment Method: Payable to [Landlord/Management Company Name] via [ACH / Electronic Portal / Certified Check].
• Late Fees: Per NYC Real Property Law § 238-a, late fees shall not exceed $50.00 or five percent (5%) of the monthly rent, whichever is less, and shall not be assessed until rent is at least five (5) days past due.
• Returned Check Fee: $[Amount] (capped at actual bank processing costs).

3.3 Security Deposit

• Amount: US $[Amount] (Must not exceed one (1) month’s rent pursuant to HSTPA of 2019).
• Depository Bank: [Name of New York Bank] located at [Bank Address].
• Return of Deposit: Within fourteen (14) days of Tenant vacating the Premises, accompanied by an itemized statement detailing any lawful deductions.

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4. OPERATIVE CLAUSES & COVENANTS

4.1 Applicable New York City Riders & Disclosures

The following riders are attached hereto and incorporated by reference into this Lease:

1. NYC Rent Stabilization Rider (if applicable).
2. Lead-Based Paint Disclosure (mandatory for buildings constructed prior to 1978).
3. Bed Bug Infestation History Disclosure (mandatory under NYC Housing Maintenance Code).
4. Window Guard Notice (mandatory where children under the age of 10 reside).
5. Rider Concerning Assembly of Furniture / Tip-Over Risks.

4.2 Utilities and Services

• Landlord Provides: Heat and hot water (as required by the NYC Housing Maintenance Code).
• Tenant Provides: Electricity, gas, cable/internet, and any other utilities not expressly provided by Landlord.

4.3 Repairs, Maintenance, and Alterations

• Tenant Duty: Tenant shall maintain the Premises in a clean, sanitary condition and promptly notify Landlord of any structural defects, leaks, or required repairs.
• Alterations: Tenant shall make no structural alterations, painting, wallpapering, or mechanical modifications to the Premises without Landlord's prior written consent. All fixtures affixed to the real property shall become the property of Landlord upon installation.

4.4 Right of Entry

Landlord or Landlord’s agents may enter the Premises upon reasonable notice (at least 24 hours, except in cases of bona fide emergency) to inspect, make necessary repairs, or exhibit the Premises to prospective buyers or tenants during the final sixty (60) days of the term.

4.5 Default and Termination

If Tenant fails to pay rent within five (5) days of the due date, or breaches any other material covenant of this Lease, Landlord may serve a statutory notice to cure or vacate in strict accordance with NY Real Property Actions and Proceedings Law (RPAPL).

4.6 Subletting and Assignment

Pursuant to NYC Real Property Law § 226-b, Tenant has the right to sublease or assign this Lease, subject to Landlord's consent, which shall not be unreasonably withheld. Tenant must provide written notice via certified mail detailing the terms of the proposed sublease.

4.7 Brokerage Commission

The parties warrant that no real estate brokers were involved in this transaction, except for [Broker Name], whose commission shall be paid pursuant to a separate written agreement.

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5. SIGNATURES & ACKNOWLEDGMENT BLOCK

IN WITNESS WHEREOF, the parties hereto have executed this Lease Agreement as of the Effective Date written above.

LANDLORD: [Landlord/Corporate Entity Name]

Signature: ____________________________________ Date: [Date] Printed Name: [Name] Title: [Title, e.g., Managing Member]

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TENANT(S):

Signature: ____________________________________ Date: [Date] Printed Name: [Tenant 1 Name]

Signature: ____________________________________ Date: [Date] Printed Name: [Tenant 2 Name]

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6. STEP-BY-STEP EXECUTION & ENFORCEMENT GUIDE

1. Mandatory Disclosures Assembly: Prior to signing, attach all mandatory NYC riders (Lead Paint, Bed Bug Disclosure, Window Guard Notice, and Safety Rider). Failure to provide these can result in severe municipal penalties.
2. Funds Verification: Collect the first month's rent and the security deposit (strictly capped at one month's rent) via certified funds or electronic transfer before handing over keys. Ensure the security deposit is placed in an interest-bearing escrow account in a NY bank and notice is given to the tenant per NY General Obligations Law § 7-103.
3. Execution: Ensure all adult occupants sign the agreement. Both Landlord (or authorized agent with Power of Attorney) and all Tenants must retain fully executed identical counterparts.
4. Key Handover & Condition Inspection: Conduct a joint move-in inspection, document existing apartment conditions with dated photographs, and execute a joint Move-In Condition Checklist.