Security Deposit in New York
New York caps residential security deposits at one month's rent under General Obligations Law § 7-108 (Housing Stability and Tenant Protection Act, 2019). The deposit must be returned within 14 days of the tenant vacating, accompanied by an itemized statement of any deductions, or the landlord forfeits the right to retain any portion of the deposit.
Last reviewed against current law: 2026-05-14
How New York law treats security deposit
Under New York General Obligations Law § 7-108, a landlord may not collect more than one month's rent as a security deposit on any residential lease, regardless of whether the unit is rent-stabilized. The same rule caps any pet deposit, last-month-rent advance, or move-in fee — they must collectively fall within the one-month limit.
The 14-day return window is short by national standards. The landlord must provide an itemized statement of damages or unpaid rent at the same time. Failure to return the deposit and provide the itemization within 14 days strips the landlord of the right to retain any of the deposit — even if the tenant caused legitimate damage.
The tenant has the right to inspect the unit before vacating and receive a written statement of conditions the landlord intends to charge against the deposit, with a reasonable opportunity to cure.
Primary sources
Frequently asked questions — New York
How much can a New York landlord ask for as a security deposit?▾
No more than one month's rent total, including any pet deposit, last-month's-rent advance, or move-in fee. The cap applies to all residential leases regardless of rent-stabilization status.
How quickly must the deposit be returned?▾
Within 14 days of the tenant vacating, with an itemized statement of any deductions. Missing the deadline forfeits the landlord's right to retain any portion.
Do tenants have a pre-move-out inspection right?▾
Yes — tenants can request a walk-through and receive written notice of conditions the landlord intends to charge against the deposit, with a reasonable cure period before move-out.