New York security deposit itemization
A New York landlord must send the itemized statement within 14 days after move-out. Miss it and the right to deduct anything is gone. The generator checks the deadline, the delivery method and the documentation as you fill it in.
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What New York requires
- Deadline
- 14 days after the tenant vacates.
- Delivery
- Deliver the itemized statement with any refund.
- If it is late
- A late statement forfeits the right to retain any part of the deposit; wilful violation adds punitive damages up to twice the deposit.
- Deposit account
- The deposit is held in trust, never commingled, and the tenant is told in writing the bank's name and address; in buildings of six or more units it earns interest in a New York bank.
- Interest
- In buildings of six or more units: interest at the prevailing rate, less a 1% yearly administrative fee, paid yearly, applied to rent or held in trust.
- Also
- Tell the tenant in writing of the right to an inspection one to two weeks before the tenancy ends, on 48 hours' written notice, with a chance to fix what it finds. Deductions are limited to unpaid rent and utilities, damage beyond normal wear and tear, and moving and storage of the tenant's belongings; cleaning is not a category of its own.
- Statute
- N.Y. Gen. Oblig. Law §§ 7-103, 7-108(1-a)
What goes on the statement
The deposit and the date it was received, each deduction with a specific description and amount, the total withheld, and the refund or balance owed. New York landlords also record how and when the statement was sent, because the deadline is measured to that date. Damage lines should say what was damaged and how, not just a room name: a tenant, and a judge, can tell a burn mark from carpet wear.
Interest, a separate deposit account, receipts, photographs and a sworn attestation are only required in some states. The generator shows the fields New York needs and leaves out the ones it does not.
New York deposit FAQ
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