New York Month-to-Month Lease Agreement
The New York month to month lease agreements, or commonly known as “Tenancy at Will”, is a rental contract for residential real estate that allows a tenant to occupy space for an unstated period of time that goes perpetually until the lessor or lessee gives notice to the other to terminate. According to Section 232-B the notice must be in writing with at least thirty (30) days’ notice to the other party.
Even though the lease can be considered a short-term arrangement, it must follow all State laws and the landlord will have the same legal and financial exposure as a standard lease agreement. Therefore the landlord is recommended to screen the potential tenant before signing a contract and should request a fee for processing the verification to ensure that they are financially secure enough to pay the monthly rent. Once approved, the month to month contract should be written and the security deposit should be requested.
- Use the Rental Application to get the potential lessee’s information and permission to process the any credit/background check.