New York Real Estate Salesperson ExaminationNew York State Specific Laws and RegulationsEasy
A tenant in a New York City apartment building, subject to rent stabilization, has a lease expiring in three months. The landlord wishes to renew the lease. What is the minimum lease term the landlord must offer for a renewal lease under rent stabilization laws?
- ATwo years
- BOne year
- CThree years
- DSix months
Show answer & explanationAnswer & explanation
Correct answer: B. One year
Under New York's Rent Stabilization Law, landlords must offer tenants a choice of a one- or two-year lease renewal. The tenant has the right to choose the term.
Why the other options are wrong
- A. While a two-year lease is an option, it's not the minimum, and the tenant has a choice.
- C. Three years is not a legally permissible renewal term under rent stabilization.
- D. Six months is not a legally permissible renewal term under rent stabilization.
Rent Stabilization Renewal Offer
In rent-stabilized apartments in NYC, landlords must offer tenants a choice of a one-year or two-year lease renewal.
- Applies to rent-stabilized units in NYC.
- Tenant chooses between one or two years.
- Landlord cannot refuse renewal without cause.
Memory trick: Stabilized leases offer Stable Choices: One or Two years.