Deposit laws by state · New York
New York security deposit laws.
Since the 2019 Housing Stability and Tenant Protection Act, New York gives landlords just 14 days to return the deposit with an itemized statement. Deposits are capped at one month's rent statewide. Failure to itemize within 14 days forfeits the right to retain any portion of the deposit.
Key rules
What New York landlords need to do.
- 1.
14-day deadline to return deposit + itemized statement — among the strictest in the country.
- 2.
Statewide cap of one month's rent on security deposits (no longer the prior 'first + last + security' tradition).
- 3.
Pre-move-out inspection must be offered between 1 and 2 weeks before move-out so the tenant can cure issues.
- 4.
Buildings of 6+ units must keep deposits in a separate interest-bearing NY bank account; interest (less 1% admin fee) accrues to tenant.
- 5.
If the 14-day itemization is missed, the entire deposit must be returned — even if there's documented damage.
Common pitfalls
Where New York landlords lose deposit cases.
Treating the 14-day clock as business days — it's calendar days, including weekends.
Not offering the pre-move-out inspection — required, and must be offered in writing.
Charging more than one month's rent as a 'pet deposit' or 'security plus' — the 1-month cap is total, all-inclusive.
Statute
New York General Obligations Law § 7-108
Read the statute on the New York legislature site →This page is a landlord-oriented summary, not legal advice. Local ordinances may impose stricter rules than state law. Consult a New York attorney before acting on a contested deposit dispute.
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New York deposit FAQ.
- How long does a landlord have to return the security deposit in New York?
- 14 days after move-out, per New York General Obligations Law § 7-108. The clock typically starts when the tenant gives a forwarding address; check the statute for state-specific triggers.
- What's the maximum security deposit allowed in New York?
- 1 month's rent (HSTPA, 2019). Charging above the cap is unenforceable and exposes the landlord to penalties.
- What's the penalty for wrongfully withholding a deposit in New York?
- Forfeiture of the right to retain any portion of the deposit if itemization is not provided within 14 days.
- Does New York require an itemized deduction statement?
- Yes. New York requires an itemized written statement listing each deduction with its cost. Sending a refund without itemization (when claiming any deductions) commonly triggers the wrongful-withholding penalty.
- Does New York require a pre-move-out inspection?
- Yes. New York requires the landlord to offer a pre-move-out inspection so the tenant can fix issues before deductions are taken. Skipping the offer (even if the tenant declines) can void the deductions.