General information only, not legal advice. Laws change. Verify requirements with a licensed attorney or the statute before acting. Last reviewed: June 2026.
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.
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
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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