All New And Renewal Leases, Including Proprietary Leases And Subleases, Must Now Disclose Whether Premises Are Sprinklered
Under a new state statute, Real Property Law § 231-a, every residential lease entered into on or after December 3, 2014, including a renewal lease or a sublease, must provide conspicuous notice in boldface type as to whether a maintained and operative sprinkler system exists in the leased premises, and if so, the date of its last maintenance and inspection. The new law is not retroactive, but applies to any lease renewal entered into after December 3, 2014. It also extends to subleases.
Ganfer Shore Leeds & Zauderer, LLP has prepared a memorandum to the firm’s clients and friends discussing the requirements of the new law and providing sample language for compliance by landlords, including cooperatives. A copy of this memorandum is enclosed with this newsletter. Additional copies may be requested from any member of the firm