A landlord may deduct from a tenant’s security deposit for wear and tear beyond normal damages for reasonable wear and tear. Typically a landlord may deduct expenses from your security deposit for excessive wear and tear beyond normal use. This has been decided by courts to include broken walls or windows, excessive filth, and damage to carpeting as a result of fish tanks.
A landlord may deduct from a tenant’s security deposit for wear and tear beyond normal damages for reasonable wear and tear. Typically a landlord may deduct expenses from your security deposit for excessive wear and tear beyond normal use. This has been decided by courts to include broken walls or windows, excessive filth, and damage to carpeting as a result of fish tanks.
A landlord has an obligation to provide you with the information regarding the name and location of the financial institution that will be holding the security deposit at the outset of renting the unit. The security deposit is the property of the tenant and must not be co-mingled with any other funds. If the building contains six or more units, the landlord is entitled to keep 1% of the deposit.
Tenants in New York are not legally entitled to a walk-through of the unit with the landlord to inspect for damages. However, if you know that there is damage, you may choose to make the repairs yourself to avoid any security deposit deductions. You may need to obtain your landlord’s or the local municipality’s permission. At the termination of your tenancy, your landlord should inform you of any deductions taken from the security deposit upon returning the remainder. According to New York state law, a security deposit must be returned “within a reasonable time.” Usually this has been interpreted as 21-45 days.
For more information, N.Y. General Obligations Law §§ 7-103 to 7-108 covers the New York statutory requirements for security deposits.
If you are entitled to the return of your security deposit and you cannot work this issue out with your landlord, you should consult with an attorney who has experience in landlord-tenant matters and will ensure that your rights are protected. Contact McGuire & Pelaez P.C. today at (631) 348-1702.
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I left a deposit with a realty on July 1, Friday. I could not contact the realty because Saturday is the Sabbath, but on Sunday July 3, I told the realty, due to family illness, I would not be able to sign a lease and move in. It was understood that if I changed my mine, I would loss the deposit, $1449.00. Is there a law stating that I can redeem a percent of the deposit due to the time of the transaction?