NY · Researched October 7, 2026
New York caps deposits at one month's rent, requires itemized return within 14 days, and limits late fees to $50 or 5% (whichever is less) after a 5-day grace period. Rent increases of 5% or more and nonrenewals need 30, 60 or 90 days' notice depending on tenure. New York City and opt-in cities also have rent stabilization and the 2024 Good Cause Eviction law.
A real estate broker includes anyone who, for a fee, rents real estate for others or collects or attempts to collect rent for the use of real estate. Salespeople may collect rent only on behalf of their broker.
Owners managing their own property (not acting for others). The license law also exempts court-appointed receivers, referees, administrators, executors and guardians, public officers, and attorneys.
Tenant deposits and advances must be held in trust and not commingled with the holder's own money; for 6+ unit buildings they go in an interest-bearing New York bank account with written notice to tenants. Brokers may not commingle client money with their own (19 NYCRR 175.1).
Applies to deposits and advances, with narrow exceptions (some seasonal units and owner-occupied co-op units). Rent-controlled units follow their own rules.
Missing the deadline forfeits any right to keep part of the deposit. Deductions are limited to unpaid rent, damage beyond normal wear, unpaid utilities and moving or storage of the tenant's belongings. Offer a move-in inspection and a move-out inspection 1 to 2 weeks before move-out (on 48 hours' notice). Willful violations can bring punitive damages up to twice the deposit.
For 6+ unit buildings, notify the tenant in writing of the bank name, address and deposit amount. You may keep 1% a year as an administrative fee; the rest of the interest belongs to the tenant, paid yearly, credited to rent, or paid at lease end.
The limit applies to all residential leases. Lease terms that go beyond this are unenforceable.
No other application fees. Waive the fee if the applicant provides a background or credit check from the last 30 days, and give the applicant a copy of the check and receipt. In NYC, the FARE Act bars charging tenants the fee of a broker the landlord hired.
The same notice is required when you will not renew. The period is based on the longer of total occupancy or lease term. Units under Good Cause may face a presumption that large increases are unreasonable.
Rent stabilization covers many older NYC buildings and some opt-in municipalities. Under Good Cause Eviction (covered units in NYC and towns that opt in), an increase above the local rent standard (5% plus CPI, never more than 10%) is presumed unreasonable. Exemptions include small landlords with 10 or fewer units, owner-occupied buildings of up to 10 units, buildings with a certificate of occupancy after January 1, 2009, and units renting above 245% of fair market rent.
The demand must give the tenant the choice to pay or give up possession. Serve it before filing a nonpayment case.
For units covered by Good Cause, eviction for violating a substantial lease obligation requires a written notice and a failure to cure within 10 days. Rent-stabilized units have their own cure notice rules.
Statewide, residential landlords use the § 226-c periods. Outside NYC, tenants give at least one month's notice. Good Cause units also need a listed ground.
After judgment, the marshal or sheriff must give at least 14 days' written notice and execute on a business day between sunrise and sunset. Courts may grant stays in some cases.
The Attorney General's guide says evicted tenants must get a reasonable time to remove belongings and landlords may not keep them. Document notices and storage, and get legal advice before disposing of items.
The Attorney General's guide says entry needs reasonable prior notice, a reasonable time, and the tenant's consent for repairs or services, or as the lease allows. Emergencies need no notice. Put entry terms in the lease.
Premises and common areas must be fit to live in and free of conditions dangerous to health or safety. Tenants may seek rent abatement in court for breaches.
Leases must state whether a working sprinkler system exists and its last inspection date, and include the flood history and flood zone notice. Attach the state Good Cause notice to leases, renewals and nonrenewal notices. Give the deposit bank notice for 6+ unit buildings. Federal lead paint rules apply, and NYC adds more (window guards, bed bug history and others).
State list: race, creed, color, national origin, citizenship or immigration status, sexual orientation, gender identity or expression, military status, sex, age, disability, marital status, domestic violence victim status, lawful source of income (including vouchers) and familial status. Owner-occupied two-family homes are exempt. NYC law adds more.
Covered units in NYC, and in localities that opt in, can only be evicted or nonrenewed for listed grounds. Rent increases above the local rent standard (5% plus CPI, max 10%) are presumed unreasonable. The required Good Cause notice for leases, renewals and eviction papers took effect August 18, 2024, and the law expires June 15, 2034.
Signed October 16, 2025 and effective 60 days later. Owners and managers may not knowingly or recklessly set rents or lease terms based on software that pools data from multiple owners to recommend prices, and vendors may not facilitate such agreements.
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Compare with other states: security deposit limit, deposit return deadline, deposit interest and holding rules, late fees, application and screening fees, rent increase notice, rent control, notice for unpaid rent, notice for lease violations, ending a month-to-month, eviction timeline, abandoned property, landlord entry, repairs and habitability, required disclosures, state fair housing protections.