New York Lease Agreement
New York Lease Agreement & Security Deposit Rules
New York caps the security deposit at 1 month's rent and requires return within 14 days after move-out.
Lease agreement requirements in New York
New York caps most residential security deposits at 1 month's rent, under General Obligations Law §7-108.
Landlords must return the deposit within 14 days after the tenant vacates, along with an itemized statement if any amount is withheld.
New York City and other localities may have additional rent-stabilization and deposit rules.
Reference: New York General Obligations Law §7-108. This is general educational information, not legal advice — many cities have their own additional rules. Confirm current New York and local requirements.
New York key points
- Deposit cap: 1 month's rent for most residential leases.
- 14 days to return the deposit with an itemized statement of deductions.
- NYC rent-stabilized units may carry additional rules.
How to create your New York lease agreement
- 1. Open the iRunDocs lease agreement generator with New York selected — deposit rules fill in automatically.
- 2. Enter landlord, tenant, property, rent, and term details.
- 3. Review the PDF preview, then download your document.
- 4. Sign following New York's requirements, and keep a copy with your records.
Frequently asked questions
What is the maximum security deposit in New York?
1 month's rent for most residential leases, under General Obligations Law §7-108.
How long does a New York landlord have to return a security deposit?
14 days after the tenant moves out, with an itemized statement if any amount is withheld.
Does New York require deposits to be held in a separate account?
Yes, for buildings with 6 or more units — deposits generally must be held in an interest-bearing escrow account.
Lease agreement rules in other states
iRunDocs provides document tools and educational information. It is not a law firm and does not provide legal advice.