Lease
All of Hydra Buildings' leases conclude at the end of August. The leases that are used are standard issue from the Real Estate Board of New York, accompanied by a number of Hydra Buildings riders.

Security Deposits
New tenants shall provide the equivalent of two months rent as security deposit against possible damage made to an apartment and/or unpaid balances. The entire amount is placed into a bank account under the corresponding tenant's name and social security number, where it will bear interest until being released at the conclusion of the rental agreement. Tenants are responsible for including the interest earned on these accounts as personal income when filing their 1040 tax forms.

Hydra Buildings has 60-days from the end of the lease to return security deposit to tenants that have moved out. If there is damage made to an apartment, then the cost of repairing the damage will be deducted before the deposit is returned to the tenant. If a lease is broken without consent from Hydra Buildings, then the management will retain the security deposit to debt against any outstanding repair, rental, legal, or other fees.

Paying Rent
Rent is due on the first day of every month. Hydra Buildings will accept personal checks, bank checks, cash and credit card charges (Visa & Mastercard only), as payment for rent. Tenants also have the option of authorizing Hydra Buildings to make automatic monthly withdrawals for all or only a portion of their rent by simply providing Hydra Buildings with a completed bank draft authorization form. Rent reductions will be considered for tenants who are willing to pre-pay their rent. The amount of the reduction is dependent upon the number of months that a tenant is willing to pay in advance.

All rent payments that are submitted after the 5th day of any given month will be deemed late, resulting in a loss of any Hydra Buildings', rent concession. It is therefore, in tenants' best interests to submit monthly rent payments in full before the 5th of each month.

Sub-Lease & Roommate Share Policy
Hydra Buildings allows tenants to sub-lease their apartment to otherindividuals under the following conditions:

• Existing tenants must have no outstanding balance on the account.
• Tenants and Sub-Leasee must submit a sub-lease request to Hydra Buildings' management with 30-days advance notice by e-mail, fax or letter. This form must be signed and dated by all other tenants that are listed on the original lease agreement.
• The sub-lease request receives approval from Hydra Buildings.

Tenants who submit a sub-lease request to Hydra Buildings will be notified of whether or not their request is accepted. If their request to sub-lease is approved, the sub-leasee will assume the same contractual obligation and rights as the previous renter unless notified otherwise in advance.

Pet Policy
Hydra Buildings has a pet policy rider to its leases that explicitly prohibits tenants from keeping pets in their apartments. The management will consider allowing pets that are well behaved and that do not cause disturbances or property damage, but reserves the rights to invoke the 'no pets clause' within its rider at any time.

Garbage Disposal & Recycling
All tenants must follow the recycling programs established by New York City's Department of Sanitation. Blue bins are provided for aluminum products, milk and juice containers, metal cans, glass jars, wire hangers, and plastic and glass bottles. Green bins are provided for all cardboard and paper products. Non-recyclable items can be placed into the general garbage bins.

Dispute Resolution
Hydra Buildings requests that any correspondence regarding the building, its management, or its tenants, is submitted by e-mail, fax, or mail. The management will then attempt to resolve all landlord-tenant and tenant-tenant disputes in a manner that is fair to all parties that are involved. Hydra Buildings has limited power to make absolute decisions to remedy tenant-tenant disputes, however, it will work to facilitate a mutually-agreeable resolution.

In the event of a dispute that a tenant has with Hydra Buildings, the management recommends that the tenant remains courteous and that he/she continues to pay the rent that they are legally obligated to pay until a resolution can be negotiated.

If an amicable resolution cannot be reached between the involved parties, Hydra Buildings will consult its attorneys for legal advice and will encourage the parties that are involved to do the same.