New York lease review

Security deposit

The security deposit is limited to one month’s rent. For apartments that are not rent regulated, the landlord must return it within 14 days after you move out, with an itemized statement of any deductions; without that statement, the full deposit is due. Rent-regulated apartments follow a “reasonable time” rule.

Late fees

Rent is only considered late if it is received more than five days after it is due, and the late fee is capped at $50 or 5% of the monthly rent, whichever is less (Real Property Law §238-a).

Application fees

Before you sign, the most a landlord can charge for a background or credit check is $20 (or the actual cost, if lower), and they must give you a copy of the check and the invoice.

Rent increase notice

For apartments that are not rent regulated, a landlord who plans to raise the rent by more than 5% or not renew must give written notice 30, 60 or 90 days ahead, depending on how long you have lived there.

Broker fees in NYC

Under NYC’s FARE Act, in effect since June 11, 2025, a broker who represents the landlord, including one who lists the apartment with the landlord’s permission, cannot charge you a fee, and no one can require you to hire a broker to rent. You can still choose to hire and pay your own broker. Listings and a signed fee disclosure must show every fee you will pay.

Rent stabilization

Many NYC apartments are rent stabilized, which limits increases and gives renewal rights. Your lease or a rider should say if yours is.

Rent, due date and late fees

Check the exact due date, any grace period, how late fees are calculated and whether they repeat daily. Many states limit late fees or require them to be reasonable.

Security deposit

Look for the amount, where it is held, what can be deducted and when it comes back. States set their own caps and return deadlines.

Lease length, renewal and ending early

Watch for automatic renewal, the notice you must give to leave, and early termination or "lease break" fees.

Repairs and maintenance

See who handles which repairs and how to request them. Clauses that push all repairs onto the tenant deserve a closer look.

Landlord entry

Check how much notice the landlord gives before entering and for what reasons.

Utilities, fees and extras

Note which utilities you pay and any added fees: parking, pets, amenities, trash, admin or "convenience" fees.

Subletting, guests and roommates

See whether you can sublet or add a roommate, guest limits, and whether roommates are jointly liable for the full rent.

Rules you might break by accident

Pet rules, smoking, alterations, satellite dishes, short-term rentals. Breaking a lease rule can be grounds for ending the tenancy.