§ 20-699.20 Definitions.
AC § 20-699.20
For purposes of this subchapter, the following terms have the following meanings: Agent. The term “agent” means a person who is licensed as a real estate broker or real estate salesperson under section 440-a of the real property law and is acting in a fiduciary capacity. Dual agent. The term “dual agent” means an agent who is acting as a tenant’s agent and a landlord’s agent with respect to an agreement regarding the same residential real property. Engage. The term “engage” means to enter into an agreement that requires the payment of a fee by a person for the performance of services by another person. Fee. The term “fee” means an amount of money that is charged by a person for the provision of services to one or more persons, including but not limited to a commission. Landlord. The term “landlord” means the lessor in a residential real property agreement, and includes an owner who lists residential real property for lease with an agent, whether or not a lease results, or who receives an offer to rent residential real property, except for a cooperative housing corporation leasing residential real property to a dwelling unit owner or shareholder of such cooperative housing corporation. Landlord’s agent. The term “landlord's agent” means a listing agent who acts alone, or an agent who acts in cooperation with a listing agent, acts as a landlord's subagent, or acts as a broker's agent, to find or obtain a tenant for residential real property. The term “landlord's agent” does not include a dual agent. Lease. The term “lease” means an agreement by which a landlord conveys residential real property for a specified term and for a specified rent. Listing. The term “listing” means an advertisement or written notice conveying that a property is available for lease. Listing agent. The term “listing agent” means a person who has entered into a listing agreement to act as an agent of the landlord for compensation. Listing agreement. The term “listing agreement” means an agreement between an owner of residential real property and an agent, by which the agent has been authorized to lease the residential real property or to find or obtain a lessee therefor. Residential real property. The term “residential real property” means a dwelling unit, as defined in paragraph 13 of subdivision a of section 27-2004, including a dwelling unit held in the condominium or cooperative forms of ownership. Tenant. The term “tenant” means a lessee in an agreement to rent residential real property and includes a person who executes an offer to rent residential real property from a landlord through an agent, or who has engaged the services of an agent with the object of entering into a residential real property agreement as a lessee. Tenant’s agent. The term “tenant’s agent” means an agent who agrees to locate residential real property for a tenant or who finds a tenant for a property and presents an offer to lease to the landlord or landlord’s agent and negotiates on behalf of the tenant. (L.L. 2024/119, 12/13/2024, eff. 6/11/2025)
