Property Management
In New York, a residential lease agreement must contain which of the following to comply with the Housing Stability and Tenant Protection Act of 2019?
AA 30-day notice clause for rent increases of any amount
BAdvance notice requirements for rent increases over 5%: 30 days (under 1 year), 60 days (1-2 years), 90 days (2+ years)✓ Correct
CA right of first refusal for the tenant to purchase the unit
DA mandatory 3-year lease term
Explanation
The Housing Stability and Tenant Protection Act of 2019 requires landlords to provide advance notice of rent increases over 5%: 30 days for tenancies under 1 year, 60 days for 1-2 year tenancies, and 90 days for tenancies over 2 years.
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