How Much Are Security Deposits for Apartments in NYC?

Nick at Hauseit (https://www.hauseit.com) reveals whether there are any legal limits to the size of security deposits in NYC. Save money when buying, selling and renting real estate in New York and Florida with Hauseit (https://www.hauseit.com). Available in NYC, Long Island, the Hudson Valley and South Florida. Established 2014. How it works: https://www.hauseit.com/how-it-works/
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Per recent legislative changes in 2019 (The Housing Stability and Tenant Protection Act), security deposits in NYS are legally capped at one month of rent. Do not pay more than one month in security deposit to any prospective landlord. If a landlord does ask for more, it is in violation of the law.

In addition, a landlord may not ask for more than one month of rent upfront. This means your total outlay cannot be more than that first month of rent plus one month security. The landlord may not also add on top of that a requirement for you to provide them with the last month of rent.

Learn more about the Housing Stability and Tenant Protection Act of 2019: https://www.hauseit.com/nyc-rent-laws-regulations-changes-2019/
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Save money when buying, selling and renting real estate in New York and Florida with Hauseit (https://www.hauseit.com). Available in NYC, Long Island, the Hudson Valley and South Florida. Established 2014. Learn how it works: https://www.hauseit.com/how-it-works/

Hauseit Group LLC, Licensed Real Estate Broker
Tel: +1 (888) 494-8258
Email: team@hauseit.com
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