This office lease provision states that the landlord and tenant each warrant and represent to the other party that there was no broker, finder or similar person, other than those listed, entitled to a commission, fee or other compensation, instrumental in consummating the lease. It also states that no conversations or prior negotiations were had by the landlord or tenant, respectively, or anyone acting on behalf of the landlord or the tenant, respectively, with any broker, finder or similar person, other than those listed, concerning the renting of the demised premises.
Queens New York Lease Provisions Relating to Brokers
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Queens
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US-OL29A07
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Yes, broker fees are still legal in NYC, but specific conditions apply based on the latest regulations. Understanding the nuances outlined in the Queens New York Lease Provisions Relating to Brokers is crucial for both tenants and landlords. You may find that using a platform like USLegalForms can provide clarity on your rights and responsibilities concerning broker fees.
Landlords must accept a tenant-provided background or credit check. The tenant-provided report must be no more than 30 days old. Landlords cannot charge more than one months' rent for the security deposit, nor can they demand first and last month's rent as a condition of occupancy.
In New York City, the Housing Stability and Tenant Protection Act of 2019 clearly states, No deposit or advance shall exceed the amount of one month's rent. Landlord's can only ask for first month's rent and a security deposit equal to one months rent.
If the tenant does not accept the renewal offer within the prescribed time, the landlord may refuse to renew the lease and seek to evict the tenant through court proceedings. If the tenant accepts the renewal offer, the landlord has 30 days to return the fully executed lease to the tenant.
The landlord must give written notice to the tenant of the right to renewal no more than 150 days and not less than 90 days prior to the end of the lease. For more information on your right to renewal, see HCR Fact Sheet #4: Lease Renewal in Rent Stabilized Apartments.
There are certain steps a landlord must take to notify the tenants of the non-renewal. Most states require the landlord to give some kind of written notice to the tenant. The lease renewal notice period is usually 30 to 60 days, depending on the state.
You can't be requiredas you might have in the past or in other statesto pay several months of rent in advance.
If the tenant does not vacate after the expiration of the thirty days, the landlord's counsel can proceed with a holdover eviction action in the appropriate local forum. At this point, the parties, through their attorneys, may attempt to negotiate a resolution to the situation.
Are Broker's Fees Legal in NYC? Yes, broker fees are legal in NYC, but there has been an attempt to regulate them. They were briefly banned in early 2020 until a lawsuit from a powerful real estate lobbying group reversed the decision.
Broker fees may be a fact of moving in New York City, but they're unheard of just about everywhere else in the country. In most cases, renters work directly with property owners or managers to secure an apartment. When brokers do get involved, their fees are paid by landlords.
