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The amount of a security deposit can be no more than one months rent. The security deposit must be kept by the owner in an interest bearing account in a NYS bank. For further details, see HCR Fact Sheet #9: Renting an Apartment Security Deposits and Other Charges.
Do tenants need to receive a receipt in NYS?
If you pay rent by check, you may also request a receipt. You only have to ask once. After that, your landlord has to give you a receipt every month. Your landlord must keep proof of cash rent receipts for 3 years.
What happens if landlord does not return security deposit in 30 days in NYC?
As a tenant, you have the right to request an inspection of the apartment before you leave, and you can be present for the inspection. This way, the landlord can point out anything they take issue with, and then you have the opportunity to fix the problems and get your full deposit back.
Does landlord have to provide receipts for security deposit in NY?
If the landlord takes any money out of the security deposit for damages, they must provide an itemized receipt describing the damage and its cost.
What does a security deposit receipt look like?
Receipts for security deposits should generally include the tenants name, the location of the bank holding the security deposit, the account number (if legally required), the amount deposited, the date, your name, and your signature.
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A security deposit return letter is a document a landlord uses to return the security deposit to a tenant. This letter outlines the amount of money being returned and the total amount of any deductions made for damages or unpaid rent.
Related links
Rent Security Complaint Form
The Attorney General investigates complaints that a landlord has failed to place security deposits in trust accounts or to pay interest on rent.
by ET SCHNEIDERMAN Cited by 4 If the building is sold, the landlord must transfer all security deposits to the new owner within five days, or return the security deposits to the tenants.
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