A New York standard residential lease agreement is a rental contract between a landlord and tenant who agreed to a fixed tenancy, typically lasting one (1) year or another predetermined period with a start and end date. Such lease is written proof the tenant may occupy the property for living purposes and has fundamental rights provided to all tenants under New York State law. Upon showing interest and before entering any formal contract, the potential tenant should do their due diligence in ensuring the property is up to standards and as advertised. Conducting a walkthrough inspection is highly recommended during the negotiations stage. Similarly, a landlord may request prospective renters to submit a rental application, verifying credentials such as employment and aggregated income. Upon reaching a mutual understanding, both parties must sign and execute the lease into effect.
Handbook – New York Tenants’ Rights Guide
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