Bill > A04355

This bill requires landlords to follow specific procedures when handling security deposits for residential rentals. The bill defines key terms like "security deposit" and establishes new rules for landlords, including limiting security deposits to no more than two months' rent and mandating a pre- and post-exit walk-through with tenants to document any potential damages. Landlords must return the full security deposit within 21 days of the lease's end, and if they choose to retain any portion of the deposit, they must provide a detailed written statement with photographic documentation and itemized receipts for any repairs. If a landlord wrongfully withholds a security deposit, they can be liable for treble damages (three times the withheld amount), reasonable attorneys' fees, court costs, and the last two months' rent. The bill also requires the Department of Homes and Community Renewal to maintain a public list of landlords who violate these provisions, promoting transparency and accountability in the rental market. Any contractual provisions that attempt to waive these requirements are deemed void, ensuring tenants' rights are protected.

Justice

https://www.nysenate.gov/legislation/bills/2025/A4355