NY Real Estate Exam NY Landlord-Tenant Law & Property Management

Question 1

What is rent stabilization in New York City?

Accepted Answer

A system limiting annual rent increases for eligible apartments, covering approximately 1 million units in NYC

Answer

A voluntary program landlords can join

Answer

A federal housing program

Answer

A type of rent insurance

Question 2

What is the security deposit limit in New York?

Accepted Answer

One month's rent maximum, and the deposit must be held in a separate interest-bearing account

Answer

Three months' rent

Answer

No limit on security deposits

Answer

Six months' rent

Question 3

What notice must a NY landlord provide before a lease renewal or non-renewal?

Accepted Answer

30, 60, or 90 days advance written notice depending on tenancy length (under 1 year, 1-2 years, or over 2 years)

Answer

No notice is required

Answer

24 hours notice

Answer

7 days notice for all tenancies

Question 4

What is the warranty of habitability in New York?

Accepted Answer

An implied warranty in every residential lease that the landlord must maintain the premises in a condition fit for human habitation

Answer

A guarantee that no repairs will ever be needed

Answer

A warranty on appliances provided by the landlord

Answer

A building inspection certificate

Question 5

What are a tenant's rights regarding repairs in New York?

Accepted Answer

Tenants can request repairs, withhold rent in escrow for serious habitability issues, or use the repair-and-deduct remedy in certain circumstances

Answer

Tenants must make all repairs themselves

Answer

Tenants have no right to request repairs

Answer

Only commercial tenants can request repairs

Question 6

What is the eviction process in New York?

Accepted Answer

Landlords must provide proper notice, file a petition in housing court, attend a hearing, obtain a judgment, and use a city marshal to execute the warrant of eviction

Answer

Landlords can simply change the locks

Answer

A 24-hour verbal notice is sufficient

Answer

Eviction does not require court involvement