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

Rent stabilization limits rent increases (set annually by the Rent Guidelines Board), provides renewal lease rights, and protects tenants from eviction without just cause. It applies to buildings with 6+ units built before 1974.

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

The Housing Stability and Tenant Protection Act of 2019 limits security deposits to one month's rent, requires deposits be held in interest-bearing accounts, and requires return within 14 days of lease termination.

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

NY requires landlords to provide advance written notice of non-renewal: 30 days for tenancies under 1 year, 60 days for 1-2 years, and 90 days for tenancies over 2 years or in rent-regulated apartments.

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

NY Real Property Law §235-b implies a warranty that premises will be maintained in habitable condition, including working plumbing, heat, electricity, and freedom from vermin. Tenants cannot waive this right.

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

NY tenants can notify landlords of needed repairs, file complaints with housing agencies (HPD in NYC), withhold rent through court proceedings, or use rent abatement claims based on the warranty of habitability breach.

(NY Real Estate Exam) New York Real Estate Exam Practice Test

(NY Real Estate Exam) New York Real Estate Exam Practice Test

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