Lease Guidelines
When leasing a residence it is important to understand the ins and outs of the contract you are entering. The terminology can be extremely confusing and to protect yourself it is useful to have an attorney help you with the process. Note the following as to legal agreements between a tenant and landlord.
Lease Agreement or Tenancy Agreement
Before you can move in, a lease agreement will be drawn up. This is essentially a legal contract between the landlord and the tenant and details the terms of the lease. The duration of the lease is usually 2 years with an option to renew for a further 1 year or 2 years, based on the then-market rental or a mutually agreed rental. Certain New York City buildings are subject to rental laws, called rent stabilization laws.
Also, we are familiar with the special idiosyncrasies of leasing a condominium unit–both from the owner’s and the tenant’s point of view.
Choosing a home is hard enough. We have the tools and experience to make the process go as smoothly as possible so you can enjoy your new location. Here at the Margolis Law Firm, whether it’s purchasing a home or leasing an apartment, we can help make your experience easier. Contact us for all further information or to arrange for a consultation.