New York security deposit return statement
New York has the strictest deadline in the country — 14 days from the end of the tenancy. Miss it and you forfeit the right to keep any of the deposit. This page pre-selects New York.
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- Deadline
- 14 days after the tenant vacates
- Forfeiture
- Miss the 14 days and you lose the right to retain any part of the deposit
- Penalty
- Up to 2× the deposit for willful violations
- Cap & interest
- Deposit capped at 1 month's rent; interest required in 6+ unit buildings
Enter your move-out date above to see your deadline
Property & Parties
Security Deposit
Required in some states: NY, IL, others
Deductions
Add state + move-out date
What the statement has to say
The Housing Stability and Tenant Protection Act of 2019 rewrote New York's deposit rules. You must provide the tenant with an itemized statement of any deductions and return the balance within 14 days of the tenant vacating. If you fail to do so, you forfeit any right to retain any portion of the deposit — regardless of how legitimate the damage was.
Deposits are capped at one month's rent, and you must offer the tenant the opportunity to inspect the unit before move-out and again after, with written notice of what you intend to repair. Skipping the inspection notice weakens any later deduction.
Interest applies in buildings with six or more units: the deposit must sit in a New York bank account earning the prevailing rate, the tenant is entitled to the interest annually (less a 1% administrative fee), and any accrued interest belongs to the tenant at move-out. Enter it in the interest field so it appears on the statement.
Frequently asked questions
How long does a New York landlord have to return a security deposit?
14 days from the day the tenant vacates. Both the itemized statement of deductions and the remaining balance must reach the tenant within that window.
What happens if I miss New York's 14-day deadline?
You forfeit the right to retain any portion of the deposit and must return it in full. Willful violations can also expose you to damages of up to twice the deposit amount.
Do I owe interest on a New York security deposit?
In buildings with six or more units, yes. The deposit must be held in an interest-bearing New York bank account, and the tenant receives the interest annually or at move-out, less a 1% annual administrative fee.
How much can I collect as a deposit in New York?
No more than one month's rent. Additional last-month's-rent payments collected up front are generally prohibited for most residential tenancies.
Related guides
- Florida security deposit return statement →
Generate a Florida security deposit itemization on the right clock: 15 days for a full refund, 30 days when you claim deductions. Free PDF.
- Security deposit deduction letter →
Write a security deposit deduction letter for any state. Itemize each charge, show the refund or balance due, and print a formal PDF letter. Free, no signup.
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