The lessor will usually ask the natural or legal person to complete a rental application in order to obtain their current income profile, previous income and corporate tax returns and references (former lessors). The owner should. The New York Monthly Lease is a housing lease that allows a tenant to use a space for an indefinite period of time. The contract continues for an indefinite period until the landlord or tenant terminates the other for termination. Although the lease can be considered a short-term agreement, it must follow all state laws, and the lessor has the same legal and financial risk as a standard lease agreement. . . .