New York Commercial Real Estate Lease
- Prime Locations: Manhattan is a highly desirable location for commercial real estate in New York City. Areas such as Midtown and Downtown Manhattan are particularly sought-after due to their proximity to major businesses, transportation hubs, and cultural amenities.
- Diverse Sectors: The commercial real estate market in New York City is diverse, with various sectors including office spaces, retail properties, and industrial spaces among others.
New York Standard Commercial Lease Agreement Steps
Maximum – The maximum amount Landlords are allowed to charge Tenants in New York is up to one month’s rent.
Return – 14 days from the lease end date.
Source: § N.Y. GOB §§ 7-108-1a(a)
- Allergen Hazards Disclosure (NYC ONLY) – The landlord must complete an annual inspection to disclose and prevent indoor allergen hazards, including mold, rodents, and cockroaches.
- What Tenants Should Know About Indoor Allergens Disclosure – This document must be provided to the tenants as an additional disclosure. Please ensure that it is handed over to them. Let me know if you need any further assistance.
- Anti-Scald Valves (NYC ONLY) – The landlord must install scald valves on all showers and bathtub faucets, set between 110-120 degrees Fahrenheit.
- Bed Bug Disclosure (NYC Only) – It is the responsibility of landlords to acknowledge the presence of bed bugs in their rental units.
- Copy of Signed Lease (Rent Stabilized Tenants ONLY) – The landlord must provide a signed copy of the lease to the tenant within 30 days of the start of the tenancy.
- Flood History Disclosure & Risk Notice – To ensure that tenants are informed about the flood history and current flood risk of their residential premises, it is mandatory for all residential leases to include a notice. This notice must detail whether the property is situated in a floodplain designated by the Federal Emergency Management Agency (FEMA).
- Security Deposit Receipt – If the landlord requires a deposit, they must provide the tenant with the name and location of the financial institution in writing.
- Smoking Policy (NYC ONLY) – Buildings with three or more units must have a no-smoking policy.
- Sprinkler Disclosure – It is essential to include information about the presence or absence of a sprinkler system.
- Stove Knob Covers (NYC ONLY) – Landlords must provide knob covers for gas-powered stoves for tenants with children under six.
- Window Guards (NYC ONLY) – In New York City, landlords must install window guards if the tenant has a child who is ten years old or younger.
- Notice: Landlords should give proper notice to Tenants before entering the rental property. In most US State, this is typically a minimum of 24 hours.
Source: § 27-2008