It is a good idea to familiarize yourself with the language and guidelines of the various types of Leases and Riders in Manhattan so you know what to expect upon arrival. You should review these documents and ask any questions you may have pertaining to them before you sign your lease. There are essentially three types of rental leases.
- Standard (stabilized and non-stabilized)
- This lease is the least complicated and of the three, and generally has the easiest approval process. There are two types of Standard Leases:
- Stabilized
- This lease states that the government regulates how much the landlord can increase your rent.
Sample Stabalized Lease
- Non-Stabilized
- This lease states that the landlord can charge a rent that reflects the current market conditions.
Sample Standard Lease
- Condo Rental
- This is a rental lease for a privately owned apartment. The approval process is moderately difficult and the tenant may need additional financial requirements, paperwork and may be expected to pay additional fees.
Sample Condo Lease
- Co-op Rental
- This is actually a sub-lease agreement between the owner of the unit and the tenant. It has the most difficult approval process and tends to take the longest to complete. Extensive additional financial requirements, paperwork and high processing fees are required.
Sample Co-op Sublease
- Federal, City and State Riders
- In addition to your standard lease, you will often encounter Riders. These are addendums that always take precedent over whatever is stated in the actual lease. Riders are primarily concerned with safety and typically cover:
- Window Guard
- Requirements for children 10 years old or younger.
Sample Lead Paint Federal Rider
- Lead Paint
- Precautions for children 6 years of age or younger.
Sample Lead Paint City Rider
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