New York Security Deposit Laws
New York's Housing Stability and Tenant Protection Act of 2019 capped security deposits at one month's rent for all residential tenancies.
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Key Rules
- Limit
- 1 month's rent maximum (statewide, HSTPA 2019)
- Return Deadline
- 14 days after tenant vacates with itemized statement
- Itemization Required
- Yes — failure to provide itemized statement forfeits landlord's right to deductions
- Interest Required
- Yes, for buildings with 6+ units — must be held in interest-bearing account; interest credited to tenant annually
- Bad Faith Penalty
- Landlord who fails to return deposit in good faith forfeits all deductions; court may award double damages
Applicable Statutes
Security deposit limit: as amended by HSTPA 2019, maximum one month's rent for all residential tenancies statewide. Previous law allowed higher deposits.
Security deposit return requirements: landlord must return deposit within 14 days of tenant vacating with an itemized written statement of deductions. Failure to comply results in forfeiture of right to make any deductions.
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Not Legal Advice. This site provides general educational information only — not legal counsel. Laws vary by location. Consult a qualified attorney for advice on your specific situation.