A New York monthtomonth lease agreement is a contract landlords use to rent out residential property for one month at a time. Leases is an extensive subject that covers a variety of topics, including vacancy leases, renewal leases, security deposits, roommates, subletting, and more.Learn what a rental lease agreement is and what it contains. Find out what an NYC lease covers and what New York laws will protect you. PREAMBLE: This lease contains the agreements between You and Owner concerning Your rights and obligations and the rights and obligations of Owner. Stop paying your rent for a few months. Tenants who stay past the end of a lease agreement are also treated as month-to-month tenants once the landlord accepts their rent when the lease is expired. New York law limits security deposits to one month's rent, which should be clearly stated in the lease. Guarantors must show an annual income of 80-100 times monthly rent. A Guarantor is not required to be present at lease signing.