Lease Agreement Review Checklist

RENT ESCALATION — Flag: 3% automatic annual increase means rent becomes $2,472 in Year 2 without renegotiation. Negotiate: request cap at CPI or 2%. SECURITY DEPOSIT — NY law: landlord must return within 14 days with itemized statement. $4,800 is at the legal maximum (2 months). Protect yourself: photograph every room before move-in. EARLY TERMINATION — 60-day notice + 2 months rent ($4,800) is steep. Negotiate: add a lease takeover clause. AUTO-RENEWAL TRAP — If you forget to give notice, you are locked into month-to-month. Set a calendar reminder 90 days before lease end. Top Negotiate: 1) Remove early termination penalty. 2) Cap annual escalation. 3) Add subletting right. 4) Define deposit standards. 5) Reduce notice period.