With the arrival of the warm season, New York City has officially entered its annual peak moving period. In the current highly competitive and challenging housing market, tenants often face various rent increase pressures, disputes over broker fees, and contract disputes. In order to help tenants protect themselves in the chaotic market, Gothamist has compiled 9 core rights that every New York tenant should be aware of.
Regardless of the type of apartment you are renting, if a landlord plans to raise the rent by more than 5%, they must notify the tenant in writing in advance. The length of notice depends on your length of residency:
– Less than one year of residency: 30 days’ advance notice required.
– One to two years of residency: 60 days’ advance notice required.
– More than two years of residency: 90 days’ advance notice required.
*If the landlord fails to notify within the specified timeframe, you have the right to continue residing at the original rent until the notice period expires.
If you are fortunate enough to rent one of the approximately half of the city’s regulated “rent-stabilized apartments,” your rent increases will be strictly limited by the city’s Rent Guidelines Board (RGB). Additionally, in most cases, you have the right to automatic lease renewal. If you are unsure of the nature of your apartment, you can inquire with the New York State Division of Housing and Community Renewal (DHCR).
Even if it is not a rent-stabilized apartment, you may still be protected by the “Good Cause Eviction” law passed two years ago. Unless the tenant is behind on rent or violating the lease agreement, the landlord cannot unreasonably refuse to renew the lease. This law also provides a basis for tenants to challenge excessive rent increases.
By law, the maximum application fee for renting is $20, and this fee can only be used for background checks and credit record inquiries. Any attempt to charge tenants a higher fee is illegal.
According to the “Fairness in Renting Act” (FARE Act) implemented in New York City last year, tenants no longer need to pay broker fees unless they actively hire a broker to assist in finding a rental property. This reform aims to alleviate the financial burden on tenants when signing a lease.
Limit: The security deposit amount cannot exceed one month’s rent.
Timing of Payment: The law prohibits brokers from collecting so-called “holding fees.” You do not need to and should not pay any deposit or fees before formally signing the lease.
After you move out of the apartment, the landlord must return the security deposit within 14 days. If the landlord deducts any amount, they must provide a written itemized list explaining the reason, otherwise, the full amount must be returned.
Experts recommend that on the day you move into a new home, be sure to take photos and videos of the entire house, especially any pre-existing damages. This evidence will be crucial in ensuring you receive a full refund of the security deposit when you move out in the future.
In an environment of housing shortages, various scams abound. Tenants should be wary of those who request payment before viewing the property or listings with rent significantly below market rates.
While the rental market in New York City may be “cruel and frustrating,” understanding and standing firm on your legal rights is the first step to avoiding being taken advantage of.