New York Security Deposit Laws
In New York, security deposits cannot exceed one month’s rent—landlords are only permitted to collect the first month’s rent and a deposit of an equal amount.
Written by Payton Ternus
Reviewed by Melanie Reiff
New York
Civil Code allows landlords to charge tenants a refundable security deposit equal to one month’s rent—the deposit cannot exceed this amount. When your lease ends and you give the keys back to the landlord, they are required to return your deposit within 14 days.Security deposits are an annoying part of being a tenant—it’s a sizable expense you have to pay upfront, and getting it back from your landlord when your lease is up can feel impossible. To top it off, laws regarding security deposits are different depending on the state you live in and make it difficult to know what rights you have as a tenant.
It’s important to read over renter laws in your state before you put down any deposits on a property. Car and renters insurance super app
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What is New York law on security deposits?
Security deposits made in New York have to be non-refundable deposits paid by a tenant to confirm their intentions to move into a rental property. When you pay the security deposit, you can generally expect to have your money back when your lease is up—unless you break the conditions and terms of your leasing agreement.
NY Real Property Law 220-238
and NY General Obligation Law 7-103-7-109
establish the rules and regulations surrounding security deposits, including how much a deposit can be and when it needs to be returned to a tenant.What is the maximum security deposit a landlord can charge in New York?
New York landlords are permitted to charge a maximum amount of one month’s rent as a security deposit for a rental property. The Housing Stability and Tenant Protection Act of 2019 states that “No deposit or advance shall exceed the amount of one month’s rent.”
When you’re applying for apartments, remember that the security deposit can be charged in addition to the first month’s rent. This means you may have to pay double the usual monthly rent when you move in. Your entire deposit is refundable—if you get charged and the landlord claims it is non-refundable, be careful moving forward or get in touch with a lawyer.
How long does a landlord have to return a security deposit in New York?
When your lease is up and you’ve moved out of the rental property, your landlord is required to return your security deposit within 14 days. This gives your landlord two weeks to inspect the space to their satisfaction and make sure you upheld your part of the agreement.
What can a landlord withhold a security deposit for in New York?
Security deposits cannot automatically become nonrefundable, but your landlord is legally allowed to keep all or part of your security deposit to pay for:
- Unpaid rent
- Damage in excess of normal wear and tear
- Cleaning expenses to restore the property’s original condition
You may be wondering, but what counts as “damage beyond the typical wear and tear”? This can be a little complicated, but it generally refers to damage to the property that could normally be avoided while the space is being lived in. Damage due to neglect and irresponsible use is included, so you’d be responsible if you forget to notify your landlord of any problems.
If your landlord does decide to keep part of your security deposit, they are required to give you advance notice before they make any deductions. They will also need to provide you with an itemized list of any deductions they make—they can’t hold onto your deposit without reason.
Key Takeaway New York security deposits need to be refundable, but landlords are permitted to withhold part or all of the deposit if you damage the property or miss any rent payments.
How to get your security deposit back in New York
So you moved out of your old apartment last month, but you still haven’t gotten your security deposit back. How can you get the money your landlord owes you?
The first step you need to take is contacting the landlord and asking for your deposit to be returned in writing. Mistakes can happen—it’s completely possible that they simply forgot to send it or there was an issue with your new mailing address.
However, it’s a completely different matter if your landlord refuses to return your security deposit. If they won’t explain why they are withholding your deposit or you think they are wrongly doing so, you have the option of taking them to small claims court. It may be a lengthy and stressful process, but it may very well be worth it with New York’s rent prices.
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Can I use my security deposit as last month’s rent in New York?
No. You’ll be required to pay your last month’s rent as you normally would, and then you can collect your deposit at the end of your lease term.
Can a landlord charge for carpet cleaning in New York?
Landlords can only charge for carpet cleaning if the carpet is dirty or damaged beyond the typical wear and tear that can be expected from someone living in the property.
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