New York Security Deposit Law (2026): Deadlines, Interest & Penalties
If you rented in New York, your landlord has 14 days after you move out to return your security deposit under N.Y. Gen. Oblig. Law § 7-103, 7-108. The landlord must pay interest of 1% per year in certain situations (interest required for buildings with 6+ units; prevailing rate, landlord may keep 1% admin fee). Miss the deadline or wrongfully withhold funds, and the penalty can be up to 2x deposit for willful violation. Use the calculator above to see exactly what you are owed and when it was due.
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New York Deposit Rules at a Glance
| Return deadline | 14 days after move-out 14 days after move-out (HSTPA 2019) |
|---|---|
| Interest on deposit | Conditional — 1% per year Interest required for buildings with 6+ units; prevailing rate, landlord may keep 1% admin fee |
| Separate account required | Yes |
| Deposit limit | 1 month's rent (HSTPA 2019) |
| Penalty for violations | Up to 2x deposit for willful violation |
New York Security Deposit FAQ
How long does a landlord have to return a security deposit in New York?
In New York, a landlord must return the security deposit within 14 days after the tenancy ends, under N.Y. Gen. Oblig. Law § 7-103, 7-108. Note: 14 days after move-out (HSTPA 2019).
Does my landlord owe me interest on my security deposit in New York?
Under N.Y. Gen. Oblig. Law § 7-103, 7-108, a New York landlord must pay interest of 1% per year in certain situations (interest required for buildings with 6+ units; prevailing rate, landlord may keep 1% admin fee). Rate details: Interest required for buildings with 6+ units; prevailing rate, landlord may keep 1% admin fee.
What is the penalty if a landlord misses the deposit deadline in New York?
Up to 2x deposit for willful violation. The governing statute is N.Y. Gen. Oblig. Law § 7-103, 7-108.
Is there a limit on how much a landlord can charge as a security deposit in New York?
Yes. In New York, the security deposit is limited to 1 month's rent (HSTPA 2019).
Does a New York landlord have to keep my deposit in a separate account?
Yes. New York law requires landlords to hold security deposits in a separate account, per N.Y. Gen. Oblig. Law § 7-103, 7-108.
Are there exceptions to the 14-day deposit deadline in New York?
Yes — the deadline can vary: 14 days after move-out (HSTPA 2019). When in doubt, check the statute itself (N.Y. Gen. Oblig. Law § 7-103, 7-108) or ask a local tenant-rights organization.
When does the interest requirement apply in New York?
Interest applies under these conditions: Interest required for buildings with 6+ units; prevailing rate, landlord may keep 1% admin fee. See N.Y. Gen. Oblig. Law § 7-103, 7-108 for the full rule.
What can I do if my landlord won't return my deposit in New York?
First, send a written demand letter citing N.Y. Gen. Oblig. Law § 7-103, 7-108 — our free generator creates one with your amounts filled in. If the landlord still doesn't pay, you can usually file in small claims court, where the penalty exposure is up to 2x deposit for willful violation.