New York state law requires real estate licensees who

are acting as agents of landlords and tenants of real

property to advise the potential landlords and tenants

with whom they work of the nature of their agency

relationship and the rights and obligations it creates.

This disclosure will help you to make informed

choices about your relationship with the real estate

broker and its sales agents.

Throughout the transaction you may receive more

than one disclosure form. The law may require each

agent assisting in the transaction to present you with

this disclosure form. A real estate agent is a person

qualified to advise about real estate. If you need legal,

tax or other advice, consult with a professional in

that field.

A landlord's agent is an agent who is engaged by a

landlord to represent the landlord's interest. The landlord's

agent does this by securing a tenant for the

landlord's apartment or house at a rent and on terms

acceptable to the landlord. A landlord's agent has,

without limitation, the following fiduciary duties to

the landlord: reasonable care, undivided loyalty, confidentiality,

full disclosure, obedience and duty to

account. A landlord's agent does not represent the

interests of the tenant. The obligations of a landlord's

agent are also subject to any specific provisions set

forth in an agreement between the agent and the landlord.

In dealings with the tenant, a landlord's agent

should (a) exercise reasonable skill and care in performance

of the agent's duties; (b) deal honestly, fairly

and in good faith; and (c) disclose all facts known

to the agent materially affecting the value or desirability

of property, except as otherwise provided by

law.

A tenant's agent is an agent who is engaged by a tenant

to represent the tenant's interest. The tenant's

agent does this by negotiating the rental or lease of an

apartment or house at a rent and on terms acceptable

to the tenant. A tenant's agent has, without limitation,

the following fiduciary duties to the tenant: reasonable

care, undivided loyalty, confidentiality, full disclosure,

obedience and duty to account. A tenant's

agent does not represent the interest of the landlord.

The obligations of a tenant's agent are also subject to

any specific provisions set forth in an agreement between

the agent and the tenant. In dealings with the

landlord, a tenant's agent should (a) exercise reasonable

skill and care in performance of the agent's duties;

(b) deal honestly, fairly and in good faith; and (c)

disclose all facts known to the tenant's ability and/or

willingness to perform a contract to rent or lease landlord's

property that are not inconsistent with the

agent's fiduciary duties to the buyer.

A broker's agent is an agent that cooperates or is engaged

by a listing agent or a tenant's agent (but does

not work for the same firm as the listing agent or tenant's

agent) to assist the listing agent or tenant's

agent in locating a property to rent or lease for the

listing agent's landlord or the tenant agent's tenant.

The broker's agent does not have a direct relationship

with the tenant or landlord and the tenant or landlord

cannot provide instructions or direction directly to the

broker's agent. The tenant and the landlord therefore

do not have vicarious liability for the acts of the broker's

agent. The listing agent or tenant's agent do provide

direction and instruction to the broker's agent

and therefore the listing agent or tenant's agent will

have liability for the acts of the broker's agent.

A real estate broker may represent both the tenant

and the landlord if both the tenant and landlord give

their informed consent in writing. In such a dual

agency situation, the agent will not be able to provide

the full range of fiduciary duties to the landlord and

the tenant. The obligations of an agent are also subject

to any specific provisions set forth in an agreement

between the agent, and the tenant and landlord.

An agent acting as a dual agent must explain carefully

to both the landlord and tenant that the agent is

acting for the other party as well. The agent should

also explain the possible effects of dual representation,

including that by consenting to the dual agency

relationship the landlord and tenant are giving up

their right to undivided loyalty. A landlord and tenant

should carefully consider the possible consequences

of a dual agency relationship before agreeing to such

vance informed consent to dual agency by indicating

the same on this form.

If the tenant and the landlord provide their informed

consent in writing, the principals and the real estate

broker who represents both parties as a dual agent

may designate a sales agent to represent the tenant

and another sales agent to represent the landlord. A

sales agent works under the supervision of the real

estate broker. With the informed consent in writing of

the tenant and the landlord, the designated sales agent

for the tenant will function as the tenant's agent

representing the interests of and advocating on behalf

of the tenant and the designated sales agent for the

landlord will function as the landlord's agent

representing the interests of and advocating on behalf

of the landlord in the negotiations between the tenant

and the landlord. A designated sales agent cannot

provide the full range of fiduciary duties to the landlord

or tenant. The designated sales agent must explain

that like the dual agent under whose supervision

they function, they cannot provide undivided loyalty.

A landlord or tenant should carefully consider the

possible consequences of a dual agency relationship

with designated sales agents before agreeing to such

representation. A landlord or tenant may provide advance

informed consent to dual agency with designated

sales agents by indicating the same on this

form.

This form was provided to me by _________________________________________ (print name of licensee) of

_______________________________ (print name of company, firm or brokerage), a licensed real estate broker

acting in the interest of the:

( ) Landlord as a (check relationship below) ( ) Tenant as a (check relationship below)

( ) Landlord’s agent ( ) Tenant's agent

( ) Broker's agent ( ) Broker's agent

( ) Dual agent

( ) Dual agent with designated sales agents

For advance informed consent to either dual agency or dual agency with designated sales agents complete section

below:

( ) Advance informed consent dual agency

( ) Advance informed consent to dual agency with designated sales agents

If dual agent with designated sales agents is indicated above:

_________________________________ is appointed to represent the tenant; and

_________________________________ is appointed to represent the landlord in this transaction.

(I)(We) acknowledge receipt of a copy of this disclosure form:

Signature of Landlord(s) and/or Tenant(s):

______________________________ ______________________________

______________________________ ______________________________

Date:__________________________ Date:__________________________