Assembly Bill A5721

2023-2024 Legislative Session

Relates to requiring landlords to return security deposits within a reasonable time

download bill text pdf

Sponsored By

Current Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

2023-A5721 (ACTIVE) - Details

Current Committee:
Assembly Judiciary
Law Section:
General Obligations Law
Laws Affected:
Add §7-104, Gen Ob L
Versions Introduced in Other Legislative Sessions:
2019-2020: A5963
2021-2022: A2077

2023-A5721 (ACTIVE) - Summary

Limits security deposits to one month's rent; requires landlords to return the full security deposit and any accrued interest to which the tenant is entitled less any amount retained by the landlord within 21 days of the end of the lease.

2023-A5721 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5721
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 23, 2023
                                ___________
 
 Introduced by M. of A. ARDILA -- read once and referred to the Committee
   on Judiciary
 
 AN  ACT  to  amend the general obligations law, in relation to requiring
   landlords to return security deposits within a reasonable time
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  The  general  obligations  law is amended by adding a new
 section 7-104 to read as follows:
   § 7-104. MONEY DEPOSITED OR ADVANCED FOR USE OR RENTAL OF  ANY  DWELL-
 ING; RETENTION. 1. DEFINITIONS.  FOR THE PURPOSE OF THIS SECTION:
   (A)  THE  TERM "SECURITY DEPOSIT" SHALL MEAN ANY ADVANCE OR DEPOSIT OF
 MONEY THAT IS SUBJECT TO THE PROVISIONS OF SECTION 7-103 OF THIS  TITLE,
 AND  THE  PRIMARY  FUNCTION  OF  WHICH IS TO SECURE THE PERFORMANCE OF A
 RENTAL AGREEMENT FOR THE USE OR RENTAL OF ANY DWELLING OR ANY PART THER-
 EOF.
   (B) THE TERM "LANDLORD" SHALL MEAN ANY  PERSON  WHO  RECEIVES  PAYMENT
 FROM A TENANT FOR THE RENTAL OR USE OF ANY DWELLING OR ANY PORTION THER-
 EOF AND HAS RECEIVED A SECURITY DEPOSIT IN CONNECTION WITH SUCH RENTAL.
   (C)  THE TERM "TENANT" SHALL MEAN ANY PERSON WHO OCCUPIES ANY DWELLING
 OR ANY PORTION THEREOF FOR WHICH  HE  OR  SHE  PAYS  RENT  AND  WHO,  IN
 CONNECTION WITH SUCH RENTAL, HAS FURNISHED A SECURITY DEPOSIT.
   2.  NO  SECURITY  DEPOSIT  FOR  A  DWELLING SHALL EXCEED MORE THAN ONE
 MONTH'S RENT.
   3. A MONTH PRIOR TO THE EXPIRATION OF THE LEASE,  THE  LANDLORD  SHALL
 NOTIFY ALL TENANTS THAT THEY HAVE THE OPTION TO CONDUCT A PRE-EXIT WALK-
 THROUGH  WITH THE LANDLORD TO DOCUMENT ANY AND ALL DAMAGES, AS WELL AS A
 POST-EXIT WALK-THROUGH WITH THE LANDLORD TO DOCUMENT ANY DAMAGES  CAUSED
 WHILE  MOVING OUT THAT MAY IMPACT THE VALUE OF THE SECURITY DEPOSIT. THE
 POST-EXIT WALK-THROUGH CANNOT BE AFTER THE LAST DAY OF THE LEASE.
   4. A LANDLORD SHALL, WITHIN TWENTY-ONE DAYS OF THE END OF  THE  LEASE,
 RETURN  TO THE TENANT THE FULL SECURITY DEPOSIT AND ANY ACCRUED INTEREST
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09676-01-3
              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.