NY A08482

Amends Section 227-e of the Real Property Law to expand the landlord duty to mitigate damages from residential to commercial tenants who vacate premises in violation of lease terms.

Requires landlords to take reasonable and customary actions in good faith to rent premises at fair market value or the rate agreed during the original tenancy, whichever is lower.

Provides that when a new tenant's lease takes effect at fair market value or the agreed rate, it terminates the previous tenant's lease and mitigates damages otherwise recoverable against the vacating tenant.

Places burden of proof on the party seeking to recover damages and voids any lease provisions that exempt landlords from the duty to mitigate damages.

Takes effect immediately upon enactment.