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Barristers Briefing - Update On New Residential Lease C.of O.requirements For 1-3 Fam Homes

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Mike Kennedy

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Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
A new section of the New York State real property law went into effect on Nov. 29, 2017. Real Property Law §235-bb addresses new lease requirements for 1-3 family properties. The language of lease agreements for a 1-3 family property now requires the owner to include in every lease entered into after 11/27/2017 conspicuous notice in bold face type as to whether a certificate of occupancy (if such certificate is required by law) is currently valid for the dwelling unit subject to the lease or rental agreement.

An owner may provide the tenant with a copy of the valid Certificate of Occupancy instead of providing the notice in the lease. Owners that do so “shall be deemed to have complied with the requirements of this subdivision” pursuant to the requirements of the statute. If the lease (or any other document) contains an agreement whereby the tenant waives their right to receive such notice, the waiver is deemed to be void as it is contrary to public policy. Licensees acting as a Landlord Agent or Property Manager for properties with three or less rental units that supply leases to prospective tenants may be held liable by DOS for non-compliance.

http://www.realestateindepth.com/vi...tial-lease-requirements-for-1-3-family-homes/
 
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