Security Deposit · NY
New York security deposit law
Key rules for landlords and tenants in New York, cited to NY Gen. Oblig. Law § 7-103.
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At a glance
- Max deposit
- 1 month's rent
- Return deadline
- 14 days after move-out
- Interest required
- Yes (Interest required for buildings with 6+ units; must be held in a separate account)
- Statute
- NY Gen. Oblig. Law § 7-103
- Last reviewed
- June 2026
How long does a landlord have to return a security deposit in New York?
In New York, the deadline is 14 days after move-out. That clock runs from move-out and the return of possession, not from the end of the lease.
New York law sets the maximum deposit at 1 month's rent.
Missing the deadline has teeth. Across states, remedies range from losing the right to any deduction to penalty damages plus the tenant's attorney's fees. The itemized deduction statement has to arrive inside the same window to preserve any deduction at all.
Frequently asked questions
What is the maximum security deposit in New York?
1 month's rent. (NY Gen. Oblig. Law § 7-103, last reviewed June 2026.)
How long does a landlord have to return a security deposit in New York?
14 days after move-out. The landlord must provide an itemized statement of any deductions. Failure to return on time may entitle the tenant to penalties under NY Gen. Oblig. Law § 7-103.
Is interest required on security deposits in New York?
Yes. Interest required for buildings with 6+ units; must be held in a separate account
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