New York Security Deposit Law, in Plain English

One month's rent — no stacking, no exceptions

Since June 2019, the Housing Stability and Tenant Protection Act caps everything collected as security at **one month's rent**, statewide. The cap counts deposits and advances *combined*: "first month, last month, and security" — the old New York standard — is now unlawful for most units, and a pet deposit or key deposit can't be stacked on top of a full month.

The deposit also never stops being the tenant's money. Under § 7-103 it's held in trust: commingling it with the landlord's own funds is prohibited, and any waiver of these rules is void. In buildings of **six or more units**, the deposit must sit in an interest-bearing New York bank account — the landlord may keep 1% per year as an administrative fee, and the rest of the interest belongs to the tenant.

Since **November 15, 2025**, these § 7-108 protections extend to rent-stabilized units, which previously sat outside the section.

The signed condition agreement — evidence before the tenancy starts

Before occupancy begins, the landlord must offer the tenant the opportunity to inspect the unit **together** and sign a written agreement recording existing defects and damage. That document is the baseline for the entire tenancy: at move-out, the tenant can't be charged for anything noted in it, and the landlord has a signed record of what was pristine.

Most tenants wave the walkthrough off on moving day. Don't — it's the cheapest evidence either side will ever collect.

Two inspections, one deadline — and the record carries all of it.

PropInspect walks you room by room — photos, 60-second video clips, and tagged notes attached to each room. Share the finished report as a link the other party can view without an account, or download it as a PDF to pair with the condition agreement or itemized statement. Works in the browser, works offline, no app to install. First inspections free, then $0.99 each. No subscription.

PropInspect is a documentation tool, not a compliance service or legal-advice product. Using PropInspect does not guarantee compliance with New York law or a particular result in a deposit dispute.

The pre-move-out inspection — a deduction list you can still fix

Unless the tenant gives less than two weeks' notice of leaving, the landlord must notify the tenant of the right to a pre-move-out inspection, held **no earlier than two weeks and no later than one week** before the tenancy ends, on at least 48 hours' written notice of the date and time.

After the inspection, the landlord hands over an itemized statement of the repairs and cleaning that would come out of the deposit — and the tenant gets the chance to **cure** those items before leaving. It converts a surprise deduction into a to-do list, and it surfaces disagreements while both sides are still cooperative.

After move-out: 14 days, then forfeiture

Within **14 days** of the tenant vacating, the landlord must return the deposit — and if any portion is retained, include an itemized statement explaining the basis for each deduction.

The permitted deductions are narrow and must be reasonable: unpaid rent, damage **beyond normal wear and tear**, moving and storage of the tenant's belongings, and utility arrears owed to the landlord. Ordinary aging — worn carpet paths, faded paint, small nail holes — is the landlord's cost of doing business.

Miss the 14 days, or skip the itemization, and the statute's answer is blunt: the landlord **forfeits any right to retain any portion** of the deposit. Actual damage doesn't rescue a late statement.

When it goes wrong: double damages and small claims

A landlord who violates § 7-108 owes the tenant's actual damages. A landlord found to have violated it **willfully** — keeping a deposit with no statement, deducting for wear and tear, ignoring the cap — can be ordered to pay punitive damages of up to **twice the deposit** on top.

Most deposit fights land in small claims: up to **$10,000** in New York City Civil Court, **$5,000** in city courts outside NYC, and **$3,000** in town and village justice courts. Filing is cheap and lawyers are optional. What decides these cases is paper: the signed move-in agreement, the itemized statements from both inspections, and dated room-by-room photos from move-in and move-out.

来源及官方法律文本

The official sources for this guide are **N.Y. General Obligations Law § 7-108** — the deposit statute (cap, 14-day return, inspections, damages); **N.Y. General Obligations Law § 7-103** — trust status, no commingling, interest for 6+ unit buildings; the **New York Attorney General's Residential Tenants' Rights Guide**; and the **New York Courts small-claims** page ($10,000 NYC / $5,000 city courts / $3,000 town and village).

常见问题

Keep a clear record.

Document the property condition with photos, video, and notes.

PropInspect is a documentation tool, not a compliance service or legal-advice product.

相关验房指南

• 迁入验房
• 迁出验房
• 免费物业验房检查清单

Compare state guides

These state rules are not interchangeable. Read the guide for the state where the rental is located.

• 阅读加州指南
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来源及官方法律文本

• N.Y. General Obligations Law § 7-108 — official text, NY State Senate
• N.Y. General Obligations Law § 7-103 — trust, commingling, and interest rules, NY State Senate
• NY Attorney General — tenants' rights guide (security deposits)
• New York Courts — small claims limits ($10,000 / $5,000 / $3,000)