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Reproduction in whole or in part prohibited. The New York Rental Lease Agreements allow landlords to rent commercial and residential properties to accepted tenants.Your lease is a contract between you and your landlord. It contains important information about your apartment. Do not sign anything until you've read and understood the entire agreement. Initial Payment - This is the total amount of money that the tenant must pay to move into the rental property or unit. Upon signing this Lea se, Tenant shall pay Landlord the first Monthly Rent due and the Security Deposit. It is recommended before any lessor enter into a binding real estate contract that a screening of the lessee is completed through the rental application. The whole amount of Rent is due and payable as of the Lease Commencement Date. Payment of Rent in installments is for Tenant's convenience only.