NY Tenant Rights
NY Tenant Rights
This article will list some of the NY tenant rights that are effective in the state of New York today. Renters or tenants in New York State have some NY tenant rights that one will not find in other states. This article will talk about some of those NY tenant rights that are unique only to the state of New York.
Interest on the security deposit refund – NY tenant rights – If a landlord has more than 6 rental units in their portfolio, NY tenant rights guidelines will require the landlord to deposit the security deposit amount in an interest bearing account. Upon termination of the lease, NY tenant rights will allow a tenant to seek a refund of the security deposit with the interest earned on the security deposit although the landlord is permitted to keep 1% of the interest amount that has accumulated on the security deposit amount.
Forming a tenant’s union – NY tenant rights – It is not uncommon for tenants in apartment complexes to form their own unions or tenant associations. NY tenant rights will allow tenants to use the common areas of a rental property to hold meetings to create tenant unions and the landlord will have to allow such efforts on part of the tenants. It would be against NY tenant rights if the landlord tried to charge the tenants for using the common area for a rental property as long as they are using it specifically to create a tenant’s union or a tenant’s association.
Rent control – NY tenant rights – Some properties in New York are subject to rent control. NY tenant rights will usually give a tenant additional rights when they live in a rent controlled property. For example, the tenant will be able to dictate the lease tenure and will often easily be able to sign up for a 1 or 2 year lease. Special NY tenant rights relating to rent control are applicable to tenants who have lived in a rental property since the year 1971. Also, rent control can only apply to rental complexes that have at least six rental units in them.
Lease agreements – NY tenant rights – According to NY tenant rights guidelines, a written lease agreement should be easily understood by both the tenants and the landlord and it should in no way be deliberately confusing. Also, if a tenant has lived at an apartment for longer than a year on a verbal contract, the verbal contract will cease to exist and NY tenant rights guidelines will assume that the tenant is now a month to month tenant, unless of course they enter into a written lease agreement that will run for a fixed period of time.
Brokers – NY tenant rights – NY tenancy law will allow licensed brokers to handle rental transactions although the state does not pose any limitations on the amount those brokers can charge. The broker’s fee is usually a small percentage of the yearly rent and NY tenancy law will not allow a landlord to be both a landlord as well as a broker for the same property, at the same time.