Bill > A02652

This bill modifies the New York General Obligations Law by extending the timeline for landlords to return security deposits from fourteen to thirty days after a tenant vacates a rental property. Under the proposed change, landlords must provide tenants with an itemized statement explaining any portion of the deposit being retained and return any remaining funds within thirty days of the tenant moving out. If a landlord fails to comply with this thirty-day requirement, they will forfeit their right to keep any part of the security deposit. This change gives tenants more time to receive their deposit back and provides a stronger financial incentive for landlords to promptly process and return security deposits. The bill would take effect immediately upon becoming law, providing an immediate update to existing rental property regulations in New York State.

Justice

https://www.nysenate.gov/legislation/bills/2025/A2652