lease agreement

Enforcing Holdover Rent Provisions in New York

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When drafting a lease agreement, many landlords include a “holdover rent” provision forcing tenants to pay additional rent if they remain in tenancy past the lease term. The provision could require a tenant to pay anywhere from two to three times their stated rent for each month they remain on the premises. New York courts have found these provisions valid as the landlord’s rights to liquidated damages.

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