How to Rent Out Your NYC Apartment

1. Read your building’s rules before anything else

In New York, the building often decides more than the market does. Condo bylaws and rules, or a co-op’s proprietary lease and sublet policy, set whether you may rent, the minimum and maximum term, the application and fees, and the approval process. Ask the managing agent for the current leasing package. Condo vs. co-op

2. Check the apartment’s legal status

Confirm whether the unit is subject to rent stabilization (possible in some converted buildings), which Good Cause Eviction exemption applies, and which notices and riders your lease will need. Legal checks before you list

3. Decide what you are offering

Furnished or unfurnished, the lease start date, the term (one or two years is common), whether pets are allowed if the building permits them, and what is included. Rentals of fewer than 30 days are a different regime and are restricted. Furnished or unfurnished

4. Set a realistic rent

Compare with signed leases and active listings for similar apartments, in the same building when possible. Distinguish the asking rent from the rent actually signed, and gross rent from net effective rent when free months are offered. How NYC rents are set

5. Understand the fees

Since June 11, 2025, a broker you hire is paid by you, and any fee the tenant must pay has to be disclosed in the listing and again before the lease is signed. The FARE Act for owners

6. Prepare and market the apartment

Small repairs, paint, lighting and a cleaner layout show in photos. If a tenant still lives there, organize showings that respect their rights and schedule. Leasing an occupied apartment

7. Review applications within the law

State law caps the background-check fee and the security deposit; city law protects lawful source of income and regulates when criminal history can be considered. Apply the same criteria to every applicant. Applications and fair housing

8. Get the building’s approval

Submit a complete package, follow it with the managing agent and plan for the board’s review time before setting the move-in date. The board package and move-in

9. Sign, hand over and organize what comes next

Sign the lease with its required notices, collect the first month and the deposit, book the move-in with the building, and decide who handles the tenant’s requests from day one. After the lease is signed

Printable checklist

• Building leasing package and current rules obtained
• Legal status and Good Cause exemption confirmed
• Furnished or not, term and start date decided
• Rent range based on comparable leases
• Fees agreed and disclosed
• Apartment prepared, photographed and listed
• Applications reviewed with consistent, lawful criteria
• Building approval received
• Lease, riders, deposit, move-in and post-move-in contact settled

Request a rental estimateSee the leasing service

This guide explains common steps for owners. It is not legal or tax advice; for a decision about your lease, your building documents or your taxes, consult an attorney or tax professional.

Sources

• NYC DCWP — Broker fees and the FARE Act (FAQ)
• New York State Attorney General — Residential Tenants’ Rights Guide
• New York State Attorney General — Good Cause Eviction Law
• NYC Office of Special Enforcement — What is Local Law 18

Checked 2026-11-09. Rules change: confirm the current version before relying on them.