New York City Security Deposit Law: A Renter's Guide
New York City renters are covered by New York State's deposit law, which since 2019 is among the strongest in the country: a one-month cap, a 14-day deadline, and loss of the whole deposit for a landlord who misses it. New York City also has a higher small claims limit than the rest of the state.
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Check my deadlineLocal law
New York General Obligations Law § 7-108, as amended by the Housing Stability and Tenant Protection Act of 2019
New York law also applies. See the New York security deposit guide for the statewide rules.
Which rentals are covered
All residential rentals in the five boroughs, including rent-stabilized apartments. Interest rules apply to buildings with six or more units.
How much a landlord can charge
One month's rent. This applies to market-rate and rent-stabilized apartments alike.
Interest on your deposit
In buildings with six or more units, the deposit must be held in an interest-bearing account in a New York bank. You are owed the interest, less a 1% a year administrative fee the landlord may keep, paid each year, credited toward rent, or paid at the end of the lease.
Getting your deposit back
The landlord must return the deposit, with an itemized statement of any deductions, within 14 days after you move out. A landlord who misses the 14 days loses the right to keep any of it. You can ask for an inspection before you move out so you can fix problems first.
Other New York City rules
- The landlord must tell you in writing the name and address of the bank holding the deposit and the amount.
- Deductions are only allowed for unpaid rent, utilities, and damage beyond ordinary wear and tear, and must be itemized.
- Small claims cases in New York City can be for up to $10,000, filed in the Civil Court of your borough.
Penalties
A landlord who willfully violates the law may be ordered to pay punitive damages of up to twice the deposit, in addition to the deposit itself.
Taking your landlord to small claims court
If your landlord won't pay after a written demand, you can sue in small claims court (Small Claims Court of the local city, district, town, or village court) for up to $10,000 in New York City; $5,000 in other city courts and Nassau and western Suffolk; $3,000 in town and village courts. Filing fee: $15 to $20, depending on the amount claimed. Confirm the current fee with the court clerk. More on New York small claims.
New York City security deposit questions
How much can a landlord charge for a security deposit in New York City?
One month's rent. This applies to market-rate and rent-stabilized apartments alike.
Do New York City landlords have to pay interest on security deposits?
In buildings with six or more units, the deposit must be held in an interest-bearing account in a New York bank. You are owed the interest, less a 1% a year administrative fee the landlord may keep, paid each year, credited toward rent, or paid at the end of the lease.
How long does a New York City landlord have to return a security deposit?
The landlord must return the deposit, with an itemized statement of any deductions, within 14 days after you move out. A landlord who misses the 14 days loses the right to keep any of it. You can ask for an inspection before you move out so you can fix problems first.
What is the penalty if a New York City landlord keeps a deposit wrongfully?
A landlord who willfully violates the law may be ordered to pay punitive damages of up to twice the deposit, in addition to the deposit itself.
Last reviewed October 23, 2026. Sources: N.Y. General Obligations Law § 7-108; NYC Rent Guidelines Board: security deposits. This page is general information, not legal advice. See our terms of use.