New York, NY Security Deposit Laws 2026
New York limits security deposits to 1 month's rent. In New York, that's $2,910 at the median 2BR rent of $2,910/month. Miss the 14-day return deadline and you could owe $5,820+.
In New York, landlords must return security deposits within 14 days after move-out. The maximum deposit is 1 month's rent. Failure to return on time or provide an itemized statement can result in penalties of $5,820 or more.
Key Takeaways — New York Security Deposit Laws
- Maximum deposit: 1 month's rent = $2,910 at New York's median rent
- Return deadline: 14 days after tenant moves out
- Penalty for late return: Up to 2x the deposit ($5,820)
- Itemized statement: Required with any deductions
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Security Deposit Laws in New York
Under New York law, landlords in New York may collect a maximum security deposit of 1 month's rent, regardless of whether the unit is furnished or unfurnished. At New York's median 2-bedroom rent of $2,910/month, that means the most you can legally collect is $2,910.
$2,910
max deposit (1mo × $2,910)
14 days
return deadline
$5,820
max penalty for late return
New York-Specific Rules
New York has local regulations that go beyond New York state law:
Returning the Deposit: The 14-Day Clock
Once a tenant moves out of your New York rental, New York law gives you exactly 14 days to either return the full deposit or provide an itemized statement of deductions. The clock starts on the day the tenant surrenders possession — not when you inspect the unit.
LeaseBase tracks this 14-day deadline automatically for each of your New York properties.
Start free →What you can deduct from a security deposit in New York:
- Unpaid rent
- Damage beyond normal wear and tear
- Cleaning costs to restore the unit to move-in condition
- Costs for restoring or replacing personal property (if lease allows)
What you cannot deduct:
- Normal wear and tear (minor scuffs, carpet wear, faded paint)
- Pre-existing damage (document with photos at move-in)
- Professional cleaning if the tenant left the unit in reasonable condition
Penalty Warning
Violate New York security deposit laws rules in New York and you could owe $5,820+. At New York's median rent of $2,910/month, even a single violation adds up fast.
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LeaseBase calculates deposit limits and tracks return deadlines for each property — so you never trigger penalties.
Start free →How New York Rents Affect Deposit Amounts
Deposit amounts scale with local rents. Here's what New York landlords typically collect:
| Unit Size | Median Rent (New York) | Max Deposit (1mo) | Penalty Risk |
|---|---|---|---|
| Studio | $2,529/mo | $2,529 | $5,058 |
| 1-Bedroom | $2,655/mo | $2,655 | $5,310 |
| 2-Bedroom | $2,910/mo | $2,910 | $5,820 |
| 3-Bedroom | $3,644/mo | $3,644 | $7,288 |
Rents based on HUD Fair Market Rents (FY2026) for New York County.
Calculate Your Limits
Enter your New York rent amount to see exact limits and penalty exposure.
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More New York Landlord Laws
Security Deposit Laws in Nearby Cities
Own properties in multiple cities? Rules may differ locally:
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Best software for New York landlords · Free New York lease agreement
Track New York Compliance Automatically
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Never miss a security deposit laws deadline in New York
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Not ready to start? Get the free Security Deposit Laws checklist for New York landlords.
Download Free ChecklistReviewed by Rachid Abadli
Founder & CEO, LeaseBase · Sacramento landlord · Self-managing since 2019
LeaseBase is a property management platform — not a law firm. Consult an attorney for legal advice specific to your situation.
