What is a disclosure statement for a landlord-tenant agreement?

A disclosure statement for a landlord-tenant agreement is a document that explains the terms of a lease between a landlord and a tenant. It includes key information about the rental agreement such as the duration, rental rate, and rules and regulations. In New York, disclosure statements are required by law for most residential real estate transactions. The disclosure statement must contain the name and address of the landlord, the amount of the rent, and the length of the tenancy. It must also describe any restrictions or obligations that apply to the tenant, such as rules about pets and noise levels, parking, and payment of utilities. The disclosure statement should also include any warranties or guarantees given by the landlord regarding the condition of the property. The disclosure statement is an important part of any rental agreement and should be read and understood by both the landlord and tenant prior to signing. By providing this information upfront, both parties will have a better understanding of the agreement and be able to make informed decisions. The landlord should also provide any changes in writing and both parties should sign such changes with the date written down.

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What is a disclosure statement for a landlord-tenant agreement?

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