Security Deposit Laws in New York
New York caps security deposits at 1 month's rent, requires return with an itemized statement within 14 days after the tenant moves out, and requires interest-bearing accounts for buildings with six or more units.
Last checked . General information, not legal advice.
New York at a glance
- Security deposit limit
- 1 month's rent
- Deposit return deadline
- 14 days
- 14 days after tenant vacates
- Interest on deposits
- Required in some cases
- State law requires interest only in some situations, for example above a unit count or holding period
- Notice before landlord entry
- No statutory period
- No statute specifies notice
The rules in New York
How much can a landlord charge for a security deposit in New York?
New York limits security deposits to 1 month's rent.
How long does a landlord have to return a security deposit in New York?
New York rule: 14 days after tenant vacates.
Does a landlord have to pay interest on a security deposit in New York?
Only in some cases. New York law requires interest only in certain situations, for example above a number of units or after the deposit is held for a set time. Check the statute for the details.
How much notice must a landlord give before entering a rental in New York?
New York has no statute that sets a notice period for landlord entry, so the lease usually governs. Giving reasonable advance notice is common practice.
Where do the New York rules for residential leases come from?
They come from N.Y. General Obligations Law 7-108 and N.Y. General Obligations Law 7-103. We last checked them in October 2026. Laws change, so check the current statute before you rely on it.
How New York compares
New York is one of 30 jurisdictions that cap deposits by law. Its 14-day return deadline is shorter than the most common deadline of 30 days; no state requires a faster return.
What this means in practice
Landlords: state the deposit amount, where it is held and how it will be returned in the lease, and send the refund with any deductions in writing within the deadline.
Tenants: record the unit's condition with photos and a move-in checklist, keep your receipts, and give the landlord a forwarding address in writing when you move out.
Both sides: normal wear and tear is generally not deductible. Disputes over deductions usually go to small claims court.
General information, not legal advice. Laws change, and cities can add their own rules, so check the current statute before you rely on it.