Reference: the security deposit rule in each state and covered city. To settle a deposit, use the free Deposit settlement tool.

Reference

Security deposit rules in New York

New York: return the deposit within 14 calendar days of the day the tenant vacated. Interest: conditional. Penalty if the violation is willful or intentional: 2x the deposit. (N.Y. Gen. Oblig. Law 7-108 (non-rent-stabilized units), 7-103)

The rule in plain words

Return by: 14 calendar days after the day the tenant vacated.
Deductions allowed: unpaid rent, damage beyond wear, unpaid utilities, moving and storage. Normal wear and tear never. Depreciation: none.
Interest: Conditional.
Penalty: 2x the deposit if the violation is willful or intentional.
Deposit cap: 1 month(s) of rent.

The rule text

Within fourteen days after the tenant has vacated the premises, the landlord shall provide the tenant with an itemized statement indicating the basis for the amount of the deposit retained, if any, and shall return any remaining portion of the deposit to the tenant. If a landlord fails to provide the tenant with the statement and deposit within fourteen days, the landlord shall forfeit

N.Y. Gen. Oblig. Law 7-108(1-a)(e). Source: N.Y. Gen. Oblig. Law 7-108, read 2026-10-09.

Notes on this rule (1)

Excludes rent-controlled and rent-stabilized units (7-107) and certain senior and care facilities.

Research notes (1)

How we sourced this rule: where the text was read and what we could not check.

nysenate.gov blocked automated fetches (Cloudflare). The text was first read from the public.law reprint, then read in full at nysenate.gov in a browser on 2026-10-09 (revision of 2022-03-04): the quote, (1-a)(a) cap, (b) deductions and (g) damages match word for word.

Worked example

A $2,000.00 deposit; the tenant moved in on June 1, 2023 and out on September 30, 2026. Intended deductions: $300.00 unpaid rent, $150.00 cleaning and a $1,200.00 carpet that was 5 years old.

Return by: October 14, 2026
14 calendar days after the day the tenant vacated.
Allowed deductions: $1,500.00
Of $1,650.00 claimed.
Refund due: $500.00
Interest $0.00.

The draft statement for this example

DRAFT ITEMIZED STATEMENT OF SECURITY DEPOSIT
Rule: N.Y. Gen. Oblig. Law 7-108 (non-rent-stabilized units), 7-103 (New York)
Move-out date: September 30, 2026

Security deposit held                            $2,000.00
Interest credited                                 see note
Deduction: Unpaid rent                            -$300.00
Deduction: Carpet                               -$1,200.00
Total deductions                                -$1,500.00
Refund due to tenant                               $500.00
Return by                                   October 14, 2026

Notes:
- Interest: The prevailing rate on such deposits in the area. The landlord may keep 1% per annum as administration expenses; the balance is held in trust or paid annually (7-103(2)). If the lease ends off-cycle, the interest collectable at that date is due (7-103(2-b)).
- Itemized under N.Y. Gen. Oblig. Law 7-108 (non-rent-stabilized units), 7-103.

Settle a deposit in New York

required

Where and how much

The state sets the rules; a covered city adds its own.

StateCityAdds the city's ordinance where we cover one.Deposit heldMonthly rentChecks the deposit cap.Units in the buildingInterest depends on it in IL, NY.

Dates

The dates start the clock.

Tenant moved outTenancy startedFor interest and item ages.Lease endedIf not the move-out day.Forwarding address receivedStarts or holds the clock in CT, IA, MN, RI, SD, TX, WY.Tenant's written demand receivedStarts the clock in AZ, KS, MD, MS, OK, SC, UT.New tenant moved inCan start the clock in WI, WV.Notice of claim sentFlorida: the day you sent the notice of your claimReturn period in the lease (days)The lease may set it in CO, ID, ME.

The tenant gave the notice the statute requiresChanges the deadline in AK.Repairs exceed the deposit and need a contractorCan extend the deadline in VA, WV.

Check as of another date

Check as ofDefaults to today. Use it to see where a past or future date stands.

Deductions

What you intend to keep; leave it empty to return everything. An item's age depreciates carpet, paint, blinds and appliances.

Deduction 1

CategoryAmountItem age or install dateNormal wear and tearOrdinary aging: never deductible.

Up to 9 lines.

Documentation

Some states require receipts or dated photos before a deduction stands.

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Computes and cites the published rule; it is not legal advice. You sign the statement: check the statute, your lease and any local ordinance first. Read the disclaimer.

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