Landlord Guide
NY - Updated 2025
New York Landlord Security Deposit Guide
Everything New York landlords need to know about collecting, holding, and returning security deposits legally.
Max Deposit
1 month rent
Return Deadline
14 days
Separate Account
Required
Interest
Required
New York Landlord Checklist
Collecting
- Maximum: 1 month rent
- Provide written receipt
- Deposit in separate account
- Document move-in condition
- Take dated photos
Deducting
- Only for damage (not wear)
- Keep repair receipts
- Get multiple quotes
- Itemize all deductions
- Document with photos
Returning
- Deadline: 14 days
- Include itemized statement
- Include required interest
- Mail to forwarding address
- Keep proof of mailing
Penalty for Non-Compliance: 2x deposit + punitive damages
If you fail to return the deposit or itemized statement within 14 days, or wrongfully withhold the deposit, you may face:
- 2x deposit + punitive damages
- Payment of tenant's attorney fees
- Court costs if tenant sues
- Loss of right to make deductions
Create New York Security Deposit Documents
Generate compliant deposit receipts, inspection forms, and deduction letters.