Security deposit laws by state › New York

New York Security Deposit Law and Move-In Costs (2026)

New York caps the security deposit at 1 month's rent and requires it back within 14 days with an itemized statement of deductions.

The rules

  • Maximum deposit: 1 month's rent — One month total for deposit and advance rent combined (HSTPA 2019); rent-stabilized units follow their own rules.
  • Return deadline: 14 days.
  • Interest: Required. Buildings with six or more units must hold the deposit in an interest-bearing account; landlord may keep 1% as an administrative fee.
  • Separate account: Required.
  • Itemized deductions: Required with the refund.
  • Application fee: Capped at $20 for a background/credit check, waived if the applicant supplies a recent report..

Statute: N.Y. Gen. Oblig. Law §7-108. As of October 25, 2026.

Move-in cash at $1,500/month

First month's rent$1,500
Security deposit (at the cap)$1,500
Application fee$40
Utilities and setup$150
Movers$400
Renters insurance$15
Total$3,605

The most a New York landlord may demand as a deposit on this rent is $1,500.

Run your own numbers for New York

Getting the deposit back

Document the unit's condition at move-in with dated photos, give proper notice before leaving, return the keys, and hand the landlord a forwarding address in writing — in New York and most states the return clock does not start until the landlord can reach you. Normal wear and tear cannot be deducted; damage, cleaning beyond normal use and unpaid rent can. If the deadline passes without a refund or itemized statement, small-claims court is the usual remedy, and many states add penalties of two or three times the deposit for bad-faith withholding.

Local rules

Cities and counties can add requirements on top of New York law — interest, caps, inspection rights, fee limits. Check your city's housing or rental-standards office before signing.

Sources

Last reviewed October 25, 2026.