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Apartment Lease Terms Most lease contracts are standard and are for minimum of one year. If you rent a "rent-stabilized" apartment you are protected under the New York City rent stabilization laws. If you might be leaving earlier than the contract period, be sure to tell your agent, as it may be possible to negotiate a lease break clause.
 New York City Rent Stabilization Law of 1969
Guarantor or Cosigner
If you are new on the job in New York City and have no previous credit history, landlords often require a parent or friend with substantial income or assets to assist you. They may be required to sign the lease with you in case you become unable to pay your rent. This process is relatively easy and is often asked for in the Manhattan apartment market.
Sharing Apartments
Two or more people sharing an apartment is acceptable, but must be disclosed when filling out the lease contract.
New York City Tenant´s Rights Guide
Pets
Pets are permitted in some rentals, but must be a part of the contract, which stipulates the type and size of pets which are allowed.
Security Deposits
One months rent is the generally accepted rule of thumb when it comes to security deposits. The deposit is generally refunded within one month after you move out of the apartment, as long as it is in the same or better condition than when you signed the lease.
Marc Lewis Realty
Century 21 NY Metro Real Estate
575 Madison Ave
New York, New York 10022
Phone: (212) 872-2223 Fax: (212) 202-6441
Licensed Realtor by New York State An Equal Housing Opportunity  |
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Rental Terms
