Lease Review- Is Your Lease in Compliance with the Current Laws of New York?


On June 14, 2019 New York State passed the Housing Stability and Tenant Protection Act changing the fundamentals of the Landlord Tenant Laws and practice in New York State.

Under the Act, Landlords who charge an application fee can only charge an applicate with the fee in which is equal to that of the credit check or $20.00 (whichever is less) and Landlords are now required to supply the applicant with a copy of the credit check results and receipt for payment. The applicant may also provide the Landlord with a credit report dated within 30 days of the application, at which point they cannot be charged for the processing of the application.

Landlords can now only collect a security deposit equal to one month’s rent, and within 14 days of the tenant(s) vacating the premise, the landlord must return the security deposit or advise the tenant(s) as to the reasons the security deposit was held with a breakdown of that information.

Late fees can no longer exceed $50.00 or 5% of the monthly rent (whichever is less). The days of charging a tenant with a daily late fee are over. Three Day Notices to Pay or Quit are a thing of the past; as the Landlord is now obligated to send additional notices for the demand of rent. Contact our Landlord Services team to find out what those notices are.

This Act does not allow Landlords to use a previous eviction as grounds for denial.

If a Lease provision breaches the protections given in the Housing Stability and Tenant Protection Act, the court may deem the Lease defective and the matter may be dismissed. Now is the perfect time to contact a member of our Landlord Services team to review your lease and make the applicable updates to your Lease so that you are in compliance with the Housing Stability and Tenant Protection Act.

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