New York A08078 limits security deposits to one month's rent and mandates landlords return the full deposit within 21 days of lease end.

New York A08078 amends the general obligations law to limit security deposits to one month's rent for any dwelling. It requires landlords to return the full security deposit, including any accrued interest, to tenants within 21 days of lease expiration, minus any amount the landlord retains. If a landlord retains any portion of the deposit, they must provide a written statement to the tenant within 21 days of lease end, detailing the reasons for retention, including photographic evidence of damages and a detailed itemized receipt for repairs.

New York A08078 limits security deposits to one month's rent and mandates landlords return the full deposit within 21 days of lease end.

New York A08078 amends the general obligations law to limit security deposits to one month's rent for any dwelling. It requires landlords to return the full security deposit, including any accrued interest, to tenants within 21 days of lease expiration, minus any amount the landlord retains. If a landlord retains any portion of the deposit, they must provide a written statement to the tenant within 21 days of lease end, detailing the reasons for retention, including photographic evidence of damages and a detailed itemized receipt for repairs.