Transcription of FACT SHEET - New York State Homes & …
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FACT SHEET - New York State Homes & …
fact SHEET Andrew M. Cuomo, Governor A PUBLICATION OF NEW york State . DIVISION OF HOUSING AND COMMUNITY RENEWAL. OFFICE OF RENT ADMINISTRATION. #5 Vacancy Leases in Rent Stabilized Apartments When a person rents a rent stabilized apartment for the first time, the owner and the tenant sign a VACANCY. LEASE. This written lease is a contract between the owner and the tenant which states the terms and conditions of the lease, including the length of the lease, and the rights and responsibilities of the tenant and the owner. The Rent Stabilization Law gives the new tenant (also called the vacancy lease tenant) the choice of a one- or two-year lease term. The rent the owner may charge for a vacancy lease cannot exceed the last legal regulated rent and the applicable vacancy increases authorized by law.
Web Site: www.nyshcr.org Email address: rentinfo@nyshcr.org Rent InfoLine (718) 739-6400 FACT SHEET A PUBLICATION OF NEW YORK STATE DIVISION OF HOUSING AND COMMUNITY RENEWAL
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