The idea behind most leases is for tenants to reside at the property for the term's duration. But despite best intentions, life happens and sometimes tenants need to break their leases.
For example, some tenants are servicepeople and receive change of station orders. Sometimes tenants get new jobs...
Similar to other states, New York landlords and tenants are governed by various laws. These laws outline the rights and responsibilities of both parties. As a landlord, having knowledge and understanding of these laws can help you avoid having issues with your tenants which can be timely and costly....
As a New York landlord, you’ll want to collect a security deposit from your tenants. This deposit will cushion you against potential liabilities caused by your tenant’s actions, such as:
- Failing to pay their monthly rent.
- Abandoning the unit.
- Terminating their lease agreement before the end...