Rent Controlled Lease
This lease is more extensive than other types. It specifically explains the legal status of the apartment / building, stating how long the rent control will last, under what conditions and what will be the consequences if those conditions were broken.

Cooperative Sublease
Cooperative ownership, in which a corporation owns the building and the tenants own shares of stock in the corporation together with a lease for their specific apartment, is especially prevalent in Manhattan. Co-op buildings are governed by boards of directors, who generally institute rules concerning the subleasing of the apartments. A sublease will usually be for a specific time period (often only one to three years) with no right to renew. However, some buildings are less strict. Prospective subtenants are required to provide financial and social information about themselves to the board. They are then interviewed by a committee of board members. After review, the board votes to approve or reject the sublease. An approved co-op subtenant is required to abide by all rules and regulations of the building. There is usually a "sublease fee" for subleasing in co-op buildings. The rate varies from building to building.

Condominium Lease
In condominium ownership the real estate is actually owned by the tenant. Leasing a unit in a condo is done directly with the apartment owner. Thus, the rules governing such leases are less strict than in co-op buildings. A condo's board of managers may require a prospective tenant to provide some financial and social information and often requires an interview. Approval is generally easier to obtain in a condo than in a co-op. There may also be fees levied by the condo association on prospective tenants.

Lessee
A person to whom property is rented under a lease, otherwise known as a tenant.

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