The residential lease used by licensed real estate professionals in New York state is different only in that there is a section discussing the option to have an attorney review the rental agreement before the parties sign. Both the tenant and the landlord can opt to have an attorney study the rental agreement. If an attorney is consulted the attorney must review the agreement within a three-day period. The rental agreement becomes legally binding when that three-day period expires, unless an attorney for either party communicates disapproval.
The three-day period is counted from the date of delivery of the signed rental agreement to tenant and landlord. Saturdays, Sundays or legal holidays do not count toward the three-day period. If more time is needed the tenant and landlord may agree in writing to extend the three-day period for attorney review.
Notice of Disapproval
If after reviewing the rental agreement an attorney for either tenant or landlord disapproves of the agreement, the attorney must notify the broker(s) and the other party named in the rental agreement within the three-day period. Otherwise, the rental agreement will be legally binding as written. The attorney must send the notice of disapproval to the broker(s) by certified mail, by telegram, or by delivering it personally. The telegram or certified letter will be effective upon sending. The personal delivery is considered effective upon delivery to the broker‘s office. The attorney may inform the broker(s) of any suggested revisions in the rental agreement that would make it satisfactory.
