Below is a list of common real estate terms that may appear on a NYC rental apartment lease, or that you may encounter during your search for an apartment to rent. Remember, it's always a good idea to ask questions about the apartment you’re considering if you're uncertain about any of the terms or conditions on your lease, or in your search.

 

Addendums

Attached to your lease for a New York City rental apartment ... more

 

Alcove Studio

See the Urban Edge Apartment Types guide.

 

Board or Board of Directors

Because sometimes you'll find New York City rental apartments that are, in fact... more

 

Board Package

If you're subletting a NYC apartment for rent within a condo or co-op building... more

 

Broker Fee

New York City real estate brokers for rental apartments charge a fee for their services... more

 

Classic 6 or Classic 7

See the Urban Edge Apartment Types guide.

 

Condo or Condominium Apartment

Some apartments for rent in NYC are available in condominium buildings... more

 

Convertible

See Junior Apartments, or Alcove Studio Apartments, in the Urban Edge Apartment Types guide.

 

Co-op, or Cooperative Apartment

New York City apartments for rent are occasionally in Co-op, or Cooperative buildings... more

 

Condop

Occasionally a NYC apartment for rent can be found as a sublet in a Condop building... more

 

Efficiency Apartment

See Studio Apartment in the Urban Edge Apartment Types guide.

 

Flexible

Another way of saying "Convertible" in a New York City rental apartment listing... more

 

"Green" Building

A green building, one that is LEED-certified, is a structure that is designed,... more

 

Guarantor or Co-Signer

If you have a poor credit rating or no current income... more

 

Housing Court Check

In addition to a credit check—and especially if a credit history is somewhat spotty... more

 

Junior 1 Bedroom

See the Urban Edge Apartment Types guide.

 

Junior 4

See the Urban Edge Apartment Types guide.

 
Lease

New tenants moving into a New York City apartment for rent must sign a Lease... more

 

LEED Certified

For a New York City rental building to be officially declared LEED certified—... more

 

Lessee

In a legal contract setting down terms of tenancy between a tenant and a landlord, the tenant is the Lessee, and the landlord the Lessor.

 

Lessor

In a legal contract setting down terms of tenancy between a landlord and a tenant, the landlord is the Lessor, and the tenant is the Lessee.

 

Letter of Employment

When looking for a New York City apartment for rent, you should have all of your... more

 

Listing

In New York City real estate, a listing is a written contract between the renter of a piece... more

 

Luxury Apartment

While not a legal term, a New York City luxury apartment generally refers to a home... more

 

No Broker's Fee

There are two sorts of New York City rental apartments listed as "No Fee."... more

 

Pre-war

New York City apartments for rent are often divided into two categories,... more

 

Pressurized Wall

The interior layouts of New York City apartments for rent are commonly reconfigured... more

 

Prime Lease

Signing a Prime Lease on a New York City apartment for rent simply means... more

 

Railroad Apartment

See the Urban Edge Apartment Types guide.

 

Rent Control

Implemented in 1943 as a consumer protection act, to help ensure that soldiers returning from World War II... more

 

Renters Insurance

New York City Renters Insurance covers the value of the property within your rental apartment--... more

 

Rent Stabilization

More than one million NYC rental apartments are considered to be Rent Stabilized... more

 

Rent Stabilized Lease

A Rent Stabilized Lease has most of the same language and Addendums as a standard Prime Lease,... more

 

Security Deposit

The vast majority of NYC apartments for rent require that tenants put down a Security Deposit... more

 

Studio

See the Urban Edge Apartment Types guide.

 

Sublet

Fairly common in New York City is the subleased rental apartment, or sublet... more

 

Super/Superintendent

A New York City's building superintendent—most commonly known as the building's super—... more

 

Walk-up

A New York City apartment for sale in a "walk-up" simply means that building doesn't... more