Get NY Fact Sheet 5 Vacancy Leases in Rent Stabilized Apartments 2018-2024
N 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 .
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