The returned cheque fee is cashed if this is stated in the rental agreement. However, it should not be more than $20. Interest – If the tenant lives in a building of at least six (6) housing units, the landlord is required to post the deposit into a remunerated account. Interest is paid to the tenant upon evacuation of the property at the end of the lease. (§ 7-103) New York leases can be downloaded and are available under state laws for the rental of residential and commercial real estate. Before signing a contract, a tenant will usually visit the property and see if it meets their needs and, if so, the landlord will normally ask for their registration information as part of a rental application. As soon as the landlord and tenant sign the contract, it becomes final and therefore legally binding.