Understanding your lease

Any rental agreement between a renter and a landlord is agreed to in a paper document called a lease. A lease will detail all the arrangements of the agreement, helping to protect both landlord and tenant from legal issues. As a renter it is of vital importance to READ THE ENTIRE LEASE before signing the document and moving in. 

For help reviewing or understanding your lease, contact the OCC Legal Clinic.

What's in a lease?

According to New York State law, a lease must include the following:

  • Length of the lease and when the lease ends
  • The amount of rent and date that rent is due each period
  • Where to send rent
  • Method of payment
  • The amount of extra fees for a bounced check
  • What occurs if rent is paid late, including late fees and eviction

A lease should also include:

  • Payment information
    • Specific obligations for utilities and repairs, and if tenants are expected to pay for repairs if they are found at fault
    • Details about late fees or other fees (late fees can not be more than 5% of the amount due and can only begin the fifth day after the rent is due)
    • An explanation of your security deposit
        • Landlords may not require security deposits greater than two months' rent
        • Landlords must issue receipts for the security deposit and/or specify it in the lease
  • Inspections and damages
    • To help ensure a full return of security deposit, request a list of existing damages to the apartment at the time of move-in or complete a Tenant Move-in Checklist with the landlord prior to move-in
    • If renters request it in writing at least 15 days prior to moving out, the landlord must allow the renters to be present for move-out inspection unless otherwise stated in the lease
  • Termination
    • Some leases automatically terminate at the end of the term without any further notice required from either party while some leases automatically renew
    • For leases that automatically renew, renters must provide at least 30 days' notice if they do not wish to continue or renew their lease
    • For month-to-month leases, renters and landlords are both entitled to receive 30 days' advance notice before the termination of a lease or moving out