New York City security deposit rules
New York City adds its own rules to New York’s security-deposit law. Below is each one, quoted from the official text, grouped by what it covers.
Caps and fees
For rent-stabilized apartments, when a lease is renewed at a higher rent (or the rent rises during the lease), the owner may collect additional money to bring the security deposit up to the new monthly rent, and SCRIE/DRIE tenants exempt from the rent increase must still pay the increased security.
“When a lease is renewed at a higher rental amount, or the rent is increased during the term of the lease, the owner can collect additional money from the tenant to bring the security deposit up to the new monthly rent. Even though a tenant may be exempt from paying a lease increase because of his or her Senior Citizen Rent Increase Exemption (SCRIE) or Disability Rent Increase Exemption (DRIE), the tenant must still pay the increased security.”
NYC Rent Guidelines Board, Security Deposits FAQs (quoting NYS HCR Fact Sheet #9)
Since June 11, 2025, NYC's FARE Act (Local Law 119 of 2024) bars brokers who represent landlords (including listing agents) from charging broker fees to tenants.
“The Fairness in Apartment Rental Expenses (FARE) Act took effect on June 11, 2025. This law prohibits brokers who represent landlords from charging broker fees to tenants. This includes brokers who publish listings with the landlord’s permission.”
N.Y.C. Admin. Code § 20-699.21 (Local Law 119 of 2024, FARE Act)
Landlords or their agents must give tenants a signed, itemized written disclosure of every fee the tenant must pay to rent the apartment before the lease is signed, keep it for three years, and give the tenant a copy.
“In addition, landlords or their agents must give tenants an itemized written disclosure of all fees they must pay the landlord, or any person at the direction of the landlord, to rent an apartment. The fees must include a written description, and the tenant must sign the itemized disclosure before signing a lease.”
N.Y.C. Admin. Code §§ 20-699.21(d), 20-699.22
DCWP enforces the FARE Act through summonses heard at OATH; sustained violations carry civil penalties and possible restitution of illegal fees.
“If the charges are sustained, the violator will be issued a civil penalty and may be required to pay restitution for any illegal fees charged to tenants.”
N.Y.C. Admin. Code § 20-699.23
Getting it back
Effective November 15, 2025, amendments to General Obligations Law § 7-107 extend the 14-day return, limited-deduction and itemized-list protections to rent-stabilized tenants.
“Effective November 15, 2025, changes to Section 7-107 of the General Obligations Law governing security deposits extend certain protections to rent stabilized tenants. In summary, owners must return the tenant’s full security deposit within 14 days after they move out.”
NYC Rent Guidelines Board, Security Deposits FAQs; N.Y. Gen. Oblig. Law § 7-107 (as amended eff. Nov. 15, 2025)
Purchasers of rent-stabilized buildings are directly responsible to tenants for returning security deposits and interest, whether or not they received the deposits from the former landlord.
“Purchasers of rent stabilized buildings are directly responsible to tenants for the return of security deposits and interest. This responsibility exists regardless of whether the new owner received the security deposits from the former landlord.”
NYC Rent Guidelines Board, Security Deposits FAQs
The New York rule underneath
| Rule | New York law |
|---|---|
| Deadline to return or itemize | 14 days |
| Maximum deposit | 1 month's rent |
| If the landlord breaks the rules | If the landlord does not give the itemized statement and deposit within 14 days, they forfeit any right to keep any of it (N.Y. Gen. Oblig. Law § 7-108(1-a)(e)); a landlord found to have willfully violated the rules is also liable for punitive damages of up to twice the deposit (§ 7-108(1-a)(g)). |
| Statute | N.Y. Gen. Oblig. Law §§ 7-108, 7-103 |
The full state rule, with the statute quoted: New York security deposit law. Where the city rule is stricter, the stricter rule applies to a unit in New York City.
What to do
- Keep your lease, the deposit receipt and any move-in checklist — several of these rules depend on them.
- Photograph the unit when you move in and when you move out.
- Give your landlord a forwarding address in writing when you leave.
- If the deadline passes, send a written demand citing the rule above before going to small claims court.
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Every legal statement above is taken from these official texts, read on 2026-10-01.
This page is general information, not legal advice, and using it does not create an attorney-client relationship. Main AI is not a law firm. Laws change and have exceptions; the linked official text controls. For advice about your situation, contact a licensed attorney or a legal-aid office in your state.