New York Residential Lease Agreement
Generate a New York residential lease agreement compliant with the Housing Stability and Tenant Protection Act of 2019, including the one-month security deposit cap and 14-day deposit return rule under General Obligations Law § 7-108.
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Legal Requirements in New York
Security deposits and advances may not exceed one month's rent under General Obligations Law § 7-108(1-a), as amended by the Housing Stability and Tenant Protection Act of 2019 (eff. June 14, 2019).
Within 14 days after the tenant vacates, the landlord must return the deposit and provide an itemized statement of any deductions (General Obligations Law § 7-108).
A landlord who misses the 14-day deadline forfeits the right to retain any portion of the deposit (General Obligations Law § 7-108).
Landlords must offer the tenant an inspection before move-in and before move-out, with an itemized statement of proposed deductions, to charge for damage beyond ordinary wear and tear (General Obligations Law § 7-108).
Statewide tenant protections under the HSTPA limit late fees (capped at $50 or 5% of monthly rent, whichever is less) and require notice before non-renewal or rent increases over 5%.
Key Statutes & Regulations
- General Obligations Law § 7-108 (as amended by HSTPA, 2019)
- Housing Stability and Tenant Protection Act of 2019 (L. 2019, ch. 36)
- Real Property Law § 226-c (notice for rent increases/non-renewal, 2019)
Common Pitfalls
- •Collecting last month's rent plus a full security deposit, which together exceed the one-month cap under § 7-108.
- •Missing the 14-day itemized-statement-and-return deadline, which forfeits all right to keep any of the deposit.
- •Charging a late fee above the lesser of $50 or 5% of monthly rent.
- •Failing to offer the pre-move-in and pre-move-out inspections required to support damage deductions.
Local Terminology
- HSTPA
- The Housing Stability and Tenant Protection Act of 2019, which amended New York law to cap deposits, shorten the return window, and limit late fees statewide.
- Itemized statement
- The written breakdown of any deposit deductions a landlord must provide within 14 days of the tenant vacating under General Obligations Law § 7-108.
- One-month cap
- The rule under General Obligations Law § 7-108(1-a) that a deposit or advance may not exceed one month's rent.
How New York Differs
Unlike states with no deposit cap, New York limits the security deposit to a single month's rent for nearly all residential tenancies.
The deposit-return window is a strict 14 days, far shorter than the 30-45 days common in other states, with total forfeiture as the penalty for lateness.
Late fees are statutorily capped at the lesser of $50 or 5% of monthly rent.
The HSTPA requires advance written notice (30 to 90 days based on tenancy length) before raising rent more than 5% or declining to renew.
Frequently Asked Questions
How much can a New York landlord charge for a security deposit?
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No more than one month's rent. Under General Obligations Law § 7-108(1-a), amended by the Housing Stability and Tenant Protection Act of 2019, security deposits and advances for nearly all residential tenancies are capped at one month's rent. Collecting both a deposit and last month's rent typically violates this cap.
When must a New York landlord return the security deposit?
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Within 14 days after the tenant moves out. General Obligations Law § 7-108 requires the landlord to return the deposit and provide an itemized statement of any deductions within that window. Missing the 14-day deadline forfeits the landlord's right to retain any portion of the deposit.
Are late fees limited in New York?
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Yes. Under the Housing Stability and Tenant Protection Act of 2019, residential late fees are capped at the lesser of $50 or 5% of the monthly rent, and a fee cannot be charged until the rent is at least five days late. Lease clauses exceeding this limit are unenforceable.
Does a New York landlord have to allow an inspection?
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Yes. To deduct for damage beyond ordinary wear and tear, General Obligations Law § 7-108 requires the landlord to offer the tenant an inspection before move-in and again before move-out, providing an itemized statement of proposed deductions so the tenant has a chance to remedy issues.
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