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The Renewal Lease NYC form plays a crucial role in the rental landscape of New York City, particularly for tenants and landlords navigating the complexities of rent stabilization. This form serves as a formal notice for the renewal of a lease under Section 2523.5(a) of the Rent Stabilization Code, ensuring that both parties are aware of their rights and responsibilities. It outlines essential details such as the expiration date of the current lease, options for renewal for one or two years, and the legal rent adjustments based on the applicable guidelines. Tenants are given the opportunity to accept the renewal offer or to decline it, with specific instructions on how to respond within a 60-day timeframe. Additionally, the form addresses security deposits, potential separate charges for amenities, and any applicable rent reductions under programs like SCRIE or DRIE. Importantly, it emphasizes the necessity of returning signed copies to the landlord to solidify the renewal agreement, highlighting the binding nature of the document once executed. Understanding the nuances of this form can empower tenants and owners alike, fostering a clearer communication channel in the often intricate world of New York City's rental agreements.
Similar forms
- Lease Agreement: A lease agreement is a foundational document that outlines the terms and conditions of renting a property. Like the Renewal Lease NYC form, it specifies rental amounts, duration, and obligations of both the landlord and tenant. However, the lease agreement is typically created at the start of the tenancy, while the Renewal Lease is specifically for extending an existing lease.
- Notice of Rent Increase: This document informs tenants of a proposed increase in rent. Similar to the Renewal Lease, it must comply with local regulations and provide details on the new rental amount. However, the Notice of Rent Increase is focused solely on the change in rent, whereas the Renewal Lease encompasses the entire lease renewal process.
- Rental Application: A rental application is used by landlords to screen potential tenants. It collects information about the applicant's background, income, and rental history. While both documents serve to establish a rental agreement, the Renewal Lease is for current tenants looking to extend their lease, whereas the rental application is for new tenants seeking to enter a lease.
- Termination Notice: A termination notice is issued when a landlord intends to end a tenancy. This document shares similarities with the Renewal Lease in that it must adhere to legal guidelines and provide specific information. However, the Renewal Lease aims to extend the tenancy, while the termination notice seeks to conclude it.
- Lease Addendum: A lease addendum modifies or adds specific terms to an existing lease. Like the Renewal Lease, it requires mutual agreement between landlord and tenant. However, an addendum typically addresses particular issues, such as pet policies or maintenance responsibilities, while the Renewal Lease focuses on the overall renewal of the lease terms.
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RENEWAL LEASE FORM
Owners and Tenants should read INSTRUCTIONS TO OWNER and INSTRUCTIONS TO TENANT
on reverse side before filling out or signing this form
THIS IS A NOTICE FOR RENEWAL OF LEASE AND RENEWAL LEASE FORM ISSUED UNDER SECTION 2523.5(a) OF THE RENT STABILIZATION CODE. ALL COPIES OF THIS FORM MUST BE SIGNED BELOW AND RETURNED TO YOUR LANDLORD WITHIN 60 DAYS.
Dated: ________________________ 20_________ |
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Tenant's Name(s) and Address: |
Owner's /Agent's Name and Address: |
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__________________________________ |
1.The owner hereby notifies you that your lease will expire on:
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PART A - OFFER TO TENANT TO RENEW |
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2. You may renew this lease, for one or two years, at your option, as follows: |
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Column A |
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Column B |
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Column C |
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Column D |
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Column E |
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Column F |
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Renewal |
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Legal Rent on |
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Guideline % or |
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Applicable Guideline |
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Lawful Rent Increase, |
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New Legal Rent |
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Term |
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Sept.30th Preceding |
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Minimum $ Amount |
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Supplement, if any |
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if any, Effective after |
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(If a lower rent |
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Commencement |
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(If unknown, check box |
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Sept. 30th |
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is to be charged, |
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Date of this |
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and see below)* |
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check box and see item |
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Renewal Lease |
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5 below) |
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1 Year |
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$_______________ |
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%) $___________ |
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$______________ |
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$______________ |
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$______________** |
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2 Years |
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Same as above |
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%) $___________ |
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$______________ |
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$______________ |
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$______________ |
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*If applicable guideline rate is unknown at time offer is made, check box in Column C and enter current guideline which will be subject to adjustment when rates are ordered.
**Rent Guidelines Board Order #53 applies to leases commencing between 10/1/21 and 9/30/22. The one (1) year lease guideline increase cannot be applied until the final six (6) months of the lease. There is no guideline increase in the first six (6) months.
3.Security Deposit: *** Collectable after the sixth (6) month of a
Current Deposit: $______________ |
Additional Deposit Required - 1 year lease: |
$___________*** |
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Additional Deposit Required - 2 year lease: |
$___________ |
4. Specify separate charges, if applicable:
a. Air conditioner : |
$___________ |
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421a (2.2%): $___________ |
Total separate charges: $_____________ |
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b. Appliances |
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$___________ |
d. |
Other: ________________ $_____________ |
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5. Lower Rent to be charged, if any. 1 year lease $__________, 2 year lease $__________ Agreement attached: Yes |
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No |
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6.Tenant shall pay a monthly rent (enter amount from 2F or 5) of $______________ for a 1 year renewal or $ ___________ for a 2 year renewal, plus total separate charges (enter amount from 4) $_____________ for a total monthly payment of $_____________ for a 1 year renewal or $____________ for a 2 year renewal.
7.This renewal lease shall commence on ____________________, which shall not be less than 90 days nor more than 150 days from the date of mailing or personal delivery of this Renewal Lease Form. This Renewal Lease shall terminate on ___________________ (1 year lease) or ____________________ (2 year lease).
8.This renewal lease is based on the same terms and conditions as your expiring lease. (See instructions about additional provisions.)
9.SCRIE and DRIE. Owner and Tenant acknowledge that, as of the date of this renewal, Tenant is entitled to pay a reduced monthly rent in the amount of $ _______________ under the New York City SCRIE program or the New York City DRIE program. The reduced rent may be adjusted by orders of such program.
10. Leased premises does |
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, does not |
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have an operative sprinkler system. If operative, it was last maintained and inspected |
on ____________________ |
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This form becomes a binding lease renewal when signed by the owner below and returned to the tenant. A rider setting forth the rights and obligations of tenants and owners under the Rent Stabilization Law must be attached to this lease when signed by the owner and returned to the tenant. The rent, separate charges and total payment provided for in this renewal lease may be increased or decreased by order or annual updates of the Division of Housing and Community Renewal (DHCR) or the Rent Guidelines Board (RGB).
PART B - TENANT'S RESPONSE TO OWNER
Tenant: Check and complete where indicated one of three responses below after reading instructions on reverse side. Then date and sign your response below. You must return this Renewal Lease Form to the owner in person or by regular mail, within 60 days of the date this Notice was served upon you by the owner. Your failure to do so may be grounds for the commencement of an action by the owner to evict you from your apartment.
I (we), the undersigned Tenant(s), accept the offer of a one (1) year renewal lease at a monthly rent of $______________, plus
separate charges of $______________ for a total monthly payment of $______________. **No rent increase in the first six (6) months.
I (we), the undersigned Tenants(s), accept the offer of a two (2) year renewal lease at a monthly rent of $______________, plus
separate charges of $______________ for a total monthly payment of $______________.
I (we) will not renew my (our) lease and I (we) intend to vacate the apartment on the expiration date of the current lease.
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Tenant's Signature(s): |
Dated: |
20 |
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Dated: |
20 |
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Owner's Signature(s): |
INSTRUCTIONS TO OWNER
At least two copies of this completed Renewal Lease Form must be mailed to the tenant in occupancy or personally delivered not more than 150 days and not less than 90 days prior to the end of the tenant's lease term, along with the New York City Lease Rider For Rent Stabilized Tenants.
If the owner offers a Renewal Lease less than 90 days prior to the expiration of the existing lease, the lease term selected by the tenant shall begin at the tenant's option either (1) on the date a renewal lease would have begun had a timely offer been made or (2) on the first rent payment date occurring no less than 90 days after the date that the owner does offer the lease to the tenant. The guidelines rate applicable for such lease shall be no greater than the rate in effect on the commencement date of the lease for which a timely offer should have been made, and the increased rental shall not begin before the first rent payment date occurring no less than 90 days after such offer is made.
The owner must fully complete PART A on the reverse side of this Form explaining how the new rent has been computed. Any rent increase must not exceed the applicable Rent Guidelines Board adjustment(s) plus other adjustments authorized by the Rent Stabilization Code.
Tenants that were paying a preferential rent as of June 14, 2019 or thereafter, retain the preferential rent for the life of the tenancy. Rent Guidelines Board increases and other increases allowed by the Rent Stabilization Law are to be applied to the preferential rent.
This Renewal Lease must be offered on the same terms and conditions as the expiring lease, except for such additional provisions as are permitted by law or the Rent Stabilization Code which must be set forth by the owner and attached to this Form. If there are any additional lawful agreements between the owner and tenant, a copy signed by both parties must be attached to this Form.
The tenant must return to the owner all copies of this Form, completed and signed by the tenant in PART B on the reverse side of this Form.
The owner must furnish the tenant with a fully executed copy of this Renewal Lease Form bearing the tenant's and owner's signatures in PART B, and a copy of the DHCR New York City Lease Rider, within 30 days of the owner's receipt of this Form signed by the tenant. Service of this fully executed Form, upon the tenant, constitutes a binding renewal lease. If the owner fails to furnish the tenant with a fully executed copy of this Form within 30 days of receipt of the Form signed by the tenant, the tenant shall continue to have all rights afforded by the Rent Stabilization Law and Code, and the owner will be barred from commencing any action or proceeding against the tenant based upon
INSTRUCTIONS TO TENANT
(Read Owner's and Tenant's Instructions carefully before completing this Renewal Lease Form)
If you wish to accept this offer to renew your lease, you must complete and sign this Renewal Lease Form in the space provided in PART B on the reverse side of this Form, and you must return all copies of the signed Lease Form to the owner in person or by regular mail within
60 days of the date this Form was served upon you. You may wish to make a copy for your own records. If you do not sign and return this
Renewal Lease Form within the prescribed
Before you complete and sign PART B and return this Renewal Lease Form, be sure to check that all lawful provisions and written agreements have been attached by the owner to this Form. Please read all attachments carefully. If such other lawful provisions appear, they are part of this lease renewal offer and renewal lease. If there are any lawful agreements between you and the owner, attached copies must be signed by both parties.
If the owner agrees to a rent which is lower than the legal regulated rent, this lower amount should be entered in item 5 on the reverse side of this Form, and a signed copy of the agreement should be attached. You may not change the content of this Renewal Lease Form without the owner's written consent. If a "lower rent" amount is listed in item 5 and such rent is a "preferential rent," upon renewal the owner may not increase the rent to the legal rent listed in item 2F. Tenants that were paying a preferential rent as of June 14, 2019, retain the preferential rent for the life of the tenancy. Rent Guidelines Board increases and other increases allowed by the Rent Stabilization Law are to be applied to the preferential rent.
Your acceptance of this offer to renew shall constitute a renewal of the present lease for the term of years and rent accepted, subject to any other lawful changes which appear in writing on the attachments to this Form, and subject also to payment of the new rent and additional security, if any. Such additional security shall be deposited by the owner in the manner provided for on initial occupancy. However, pursuant to the Housing Stability and Tenant Protection Act of 2019, an owner can hold no more than one month security deposit. Anything in excess of one month must be refunded to the tenant.
Please refer to the New York City Lease Rider for a summary of tenants' rights and owners' responsibilities.
State of New York
Division of Housing and Community Renewal
Office of Rent Administration/Gertz Plaza
Jamaica, New York 11433
Web Site: www.hcr.ny.gov
Common mistakes
Filling out the Renewal Lease NYC form can be a straightforward process, but many tenants and owners make common mistakes that can lead to confusion or even disputes. Understanding these pitfalls can help ensure a smoother renewal experience.
One significant mistake is failing to return the signed form within the required 60 days. This deadline is crucial. If the tenant does not return the form in time, the owner may have grounds to initiate eviction proceedings. Therefore, it is essential to keep track of the timeline and ensure that the completed form is sent back promptly.
Another frequent error involves incomplete information. Many tenants overlook filling in all necessary details, such as the monthly rent amount or the effective dates of the renewal. Missing information can delay the process or lead to misunderstandings about the terms of the lease. It is vital to double-check that every section of the form is filled out correctly before submission.
Additionally, tenants sometimes neglect to review any attached agreements or riders. These documents often contain important provisions that affect the lease renewal. Ignoring them can lead to unexpected obligations or changes in rent. Tenants should take the time to read all attachments carefully to understand their rights and responsibilities fully.
Another common mistake is misunderstanding the rent increase guidelines. Some tenants may assume that any proposed increase is automatically valid without verifying it against the Rent Guidelines Board adjustments. It is crucial to ensure that any increase adheres to legal limits and is documented appropriately in the renewal form.
Lastly, failing to communicate with the landlord can create complications. If there are concerns about the lease terms or if a tenant intends to negotiate, it is essential to address these issues directly with the landlord. Open communication can prevent misunderstandings and foster a better landlord-tenant relationship.
More About Renewal Lease Nyc
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What is the Renewal Lease NYC form?
The Renewal Lease NYC form is a document that allows tenants in rent-stabilized apartments to renew their lease. It is issued under Section 2523.5(a) of the Rent Stabilization Code. This form must be completed and returned to the landlord within 60 days of receipt to ensure the continuation of the lease.
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How long do I have to return the Renewal Lease form?
You must return the completed Renewal Lease form to your landlord within 60 days from the date it was served upon you. Failure to do so may result in the landlord starting eviction proceedings.
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What happens if I want to accept the renewal offer?
If you wish to accept the renewal offer, complete and sign Part B of the Renewal Lease form. Return all copies to the landlord in person or by regular mail. Make sure to check that all lawful provisions and agreements are attached by the owner before signing.
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Are there any rent increases during the renewal period?
Yes, the Renewal Lease form outlines any potential rent increases. For a one-year lease, there is no rent increase during the first six months. The rent increase, if applicable, will only take effect during the final six months of the lease.
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What if I do not wish to renew my lease?
If you do not want to renew your lease, you must indicate your intention to vacate the apartment on the expiration date of your current lease in Part B of the form. Sign and return the form to your landlord to avoid any misunderstandings.
Misconceptions
Understanding the Renewal Lease NYC form can be challenging. Here are seven common misconceptions about this important document:
- 1. The Renewal Lease is optional for tenants. Many believe that they can choose not to respond to the Renewal Lease. However, tenants must return the signed form within 60 days to maintain their tenancy.
- 2. Rent increases are always applied immediately. Some tenants think that any increase in rent applies from the start of the new lease term. In reality, the first six months of a one-year lease renewal typically do not include a rent increase.
- 3. Tenants can modify the terms of the lease. It is a common misconception that tenants can change the content of the Renewal Lease. Any modifications require the owner's written consent.
- 4. The Renewal Lease must be returned in person. While returning the signed form in person is one option, tenants can also send it by regular mail within the 60-day timeframe.
- 5. The security deposit can be more than one month’s rent. Some tenants believe they can be charged more than one month's rent as a security deposit. According to the Housing Stability and Tenant Protection Act of 2019, only one month's rent can be collected.
- 6. All charges are included in the rent. There is a misconception that the rent includes all costs. However, tenants may be responsible for additional charges, such as those for appliances or air conditioning, which must be clearly specified.
- 7. The Renewal Lease automatically renews the lease. Many assume that signing the Renewal Lease means their lease is automatically renewed. The lease only becomes binding once both the tenant and the owner have signed it.
By clarifying these misconceptions, tenants can better navigate the Renewal Lease process and understand their rights and responsibilities.
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Key takeaways
When filling out and using the Renewal Lease NYC form, there are several important points to consider. Understanding these can help ensure a smooth renewal process for both tenants and landlords.
- Timely Submission: All copies of the completed Renewal Lease form must be signed and returned to the landlord within 60 days of receipt. Failure to do so may lead to eviction proceedings.
- Lease Duration: Tenants can choose to renew their lease for either one or two years. The specific terms, including rent, will be outlined in the form.
- Security Deposit: Additional security deposits may be required after the sixth month of a one-year lease renewal. The maximum security deposit cannot exceed one month’s rent.
- Separate Charges: Any additional charges, such as for air conditioning or appliances, should be specified in the form. These charges will be added to the monthly rent.
- Preferential Rent: If a tenant has been paying a preferential rent, they will continue to do so for the duration of their tenancy, even if the legal rent is higher.
- Binding Agreement: The renewal lease becomes binding once it is signed by both the owner and tenant. A fully executed copy must be provided to the tenant within 30 days.
- SCRIE and DRIE Programs: Tenants may be eligible for reduced rent under the SCRIE or DRIE programs. This reduced rent can be adjusted based on program orders.
- Lease Terms: The renewal lease will generally follow the same terms and conditions as the expiring lease, unless otherwise specified in writing.
By keeping these key points in mind, both tenants and landlords can navigate the renewal lease process more effectively.
Renewal Lease Nyc: Usage Guide
Completing the Renewal Lease NYC form is an important step for both tenants and owners. It serves as a formal agreement to renew an existing lease under the guidelines of New York City’s Rent Stabilization Code. Following these steps carefully will help ensure that the process goes smoothly.
- Begin by entering the date at the top of the form.
- Fill in the tenant's name(s) and address in the designated section.
- Provide the owner’s or agent’s name and address in the appropriate space.
- Indicate the expiration date of the current lease in the section that states, "The owner hereby notifies you that your lease will expire on:"
- In Part A, choose whether to renew the lease for one or two years. Fill out the relevant columns for legal rent, guideline percentage, and any applicable lawful rent increases.
- Enter the current security deposit amount and any additional deposit required for the renewal.
- Specify any separate charges, such as for air conditioning or appliances, and calculate the total separate charges.
- If applicable, indicate a lower rent amount to be charged for the renewal.
- Calculate the total monthly payment based on the new rent and any separate charges.
- Fill in the commencement date of the renewal lease, ensuring it falls within the specified time frame of 90 to 150 days from the date of mailing or delivery.
- Indicate whether the leased premises has an operative sprinkler system and provide the last maintenance date if applicable.
- Complete Part B by checking the appropriate response regarding the acceptance of the renewal offer. Fill in the total monthly payment and sign the form.
- Make sure to return all copies of the signed Renewal Lease Form to the owner within 60 days of receiving it.