The 14-Day Security Deposit Rule in New York

Summary

In New York, non-rent stabilized landlords must return your security deposit within 14 days of you vacating. If they miss this deadline, they lose the right to keep any of the money.

Rights & Rules

01.
Landlords must return your deposit and an itemized list of deductions within 14 days of you moving out.
02.
If they miss the 14-day deadline, they forfeit (lose) the right to keep ANY portion of your deposit, even for damages.
03.
Security deposits cannot exceed one month's rent.
04.
You have the right to an inspection before you move out to identify issues and fix them yourself.
05.
Your money must be held in a separate bank account and cannot be mixed with the landlord's personal money.

Penalties

01.
If a landlord willfully violates this law, they can be forced to pay you double the amount of the security deposit.

Verified Citations

New York General Obligations Law Section 7-108

Source

"Within fourteen days after the tenant has vacated the premises, the landlord shall provide the tenant with an itemized statement... If a landlord fails to provide the tenant with the statement and deposit within fourteen days, the landlord shall forfeit any right to retain any portion of the deposit."