New York S00952 requires rental deposits to be refundable to tenants, except for certain costs, and mandates inspections and itemized statements.

New York S00952 mandates that rental deposits or advances be fully refundable to tenants upon vacating, except for lawful retentions for non-payment of rent, tenant-caused damage, or storage costs. Landlords must provide tenants with an itemized statement of damages and return the deposit balance within 14 days. Tenants must be given the opportunity to inspect the premises before signing a lease. Grantees or assignees of leased premises can demand an escrow account. The bill applies to leases entered into after its effective date.

New York S00952 requires rental deposits to be refundable to tenants, except for certain costs, and mandates inspections and itemized statements.

New York S00952 mandates that rental deposits or advances be fully refundable to tenants upon vacating, except for lawful retentions for non-payment of rent, tenant-caused damage, or storage costs. Landlords must provide tenants with an itemized statement of damages and return the deposit balance within 14 days. Tenants must be given the opportunity to inspect the premises before signing a lease. Grantees or assignees of leased premises can demand an escrow account. The bill applies to leases entered into after its effective date.