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New York Residential Lease Agreement Template
New York leaves landlords little margin on fees and deposits: deposits are capped at one month's rent for most leases, late fees can't kick in until rent is more than 5 days late, and missing the 14-day return deadline can cost you the whole deposit. Local rent stabilization and Good Cause Eviction rules may also apply.
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New York rules to know
Deposits capped at one month
For most residential leases, a security deposit may not exceed one month's rent. The deposit remains the tenant's money and cannot be mixed with your own funds.
N.Y. Gen. Oblig. Law 7-103, 7-108 (Housing Stability and Tenant Protection Act of 2019)
Return within 14 days, itemized
Within 14 days after the tenant moves out, return the deposit with an itemized statement of any deductions. If you miss the deadline, you generally lose the right to keep any part of the deposit. Tenants may also request a pre-move-out inspection.
N.Y. Gen. Oblig. Law 7-108
Late fees: 5-day grace, $50 cap
No late fee may be charged unless rent is more than 5 days late, and the fee is capped at the lesser of $50 or 5% of monthly rent. Application and screening fees are generally limited to actual costs, up to $20.
N.Y. Real Prop. Law 238-a
Interest and local rent rules
In buildings with 6 or more units, deposits must be held in an interest-bearing New York bank account, and you must tell the tenant the bank's name and address. Rent stabilization and the 2024 Good Cause Eviction Law apply in NYC and other localities that opt in.
N.Y. Gen. Oblig. Law 7-103; N.Y. Real Prop. Law Article 6-A
Last updated 2026-10-05
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Our New York Residential Lease Agreement template as a Word document — a general starting point you fill in yourself. Sign in free to download it.
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What a residential lease agreement covers
- Parties, premises and term
- Rent, due date and late fees
- Security deposit amount and return
- Maintenance and repair responsibilities
- Pets, guests and use restrictions
- Entry and notice rules
- Required state and federal disclosures
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Frequently asked questions
- What late fee can I charge under a New York lease?
- No late fee may be charged unless rent is more than 5 days late, and the fee is capped at the lesser of $50 or 5% of monthly rent. Application and screening fees are generally limited to actual costs, up to $20, so set your lease fees with both limits in mind.
- Do I need to pay interest on deposits in New York?
- In buildings with 6 or more units, deposits must be held in an interest-bearing New York bank account, and you must tell the tenant the bank's name and address. More broadly, the deposit remains the tenant's money and cannot be mixed with your own funds.
- Does New York's Good Cause Eviction Law affect my lease?
- It may. Rent stabilization and the 2024 Good Cause Eviction Law apply in New York City and in other localities that opt in. If your property is in one of those areas, review those local rules carefully before finalizing your lease with a new tenant.
- How much can I charge for a security deposit?
- Many states cap deposits — often at one or two months' rent — and set a deadline for returning them with an itemized list of deductions. The cap and deadline vary by state.
- What disclosures does a lease need?
- Federal law requires a lead-based paint disclosure for most housing built before 1978. States add their own, such as mold, flood zone, bed bugs or the deposit's bank location.
- Can I just use a national lease template?
- Risky. Lease law is mostly state and local, and a clause that's fine in one state can be void — or carry penalties — in another.
Residential Lease Agreement in other states
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