A frequent question that we get asked is… “Must a lease begin on the 1st or 15th of the month, and end on the 30th or 31st? What happens if i need to move in on a different day?”
Well the short answer, like most things involved in New York City real estate is it depends on the individual landlord.
While most owners would prefer to begin and end all of their leases on the same schedule as it makes it easier for their management team to handle things like monthly billing and annual renewals, not all do. There are many owners who will begin the lease on any day of the month and end the lease exactly 365 days later.
Tip – If your lease does not begin on the 1st of the month and end on the last day of the month 12 months later, make sure you confirm at lease signing what will be expected for rent payment on the short month. Most owners I have worked with will still expect a full month of rent and security to be delivered at lease signing, and will pro rate the second months rent to a lower amount to reflect the days in the prior month you did not live in the apt.
However, I have also seen cases of owners requiring a full month + the pro rated amount all together in advance and other cases when the tenant only had to deliver the pro rated amount.
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