Security Deposit Rules: Albany vs Colonie

How much can my Albany landlord charge for a security deposit?

No more than one (1) month's rent. NY General Obligations Law §7-108(1-a)(a), added by the Housing Stability and Tenant Protection Act of 2019, caps residential security deposits at one month's rent statewide. The cap applies in Albany regardless of how nice the apartment or how new the lease.

How long does my landlord have to return my deposit in Albany, NY?

14 days from the end of the tenancy. The landlord must return the deposit along with an itemized statement of any deductions. If they miss the 14-day deadline or fail to itemize, they forfeit the right to keep any portion of the deposit under NY GOL §7-108(1-a)(e).

Does my Albany landlord have to put my deposit in a separate bank account?

It depends on building size. Under NY GOL §7-103, all deposits must be held in trust and not commingled. In buildings with six or more units, the deposit must be in an interest-bearing New York State bank account, and the landlord must give you the bank name and account number in writing within 30 days. Smaller buildings still must hold the deposit separately but are not required to pay interest.

My landlord wants first month, last month, and a security deposit — is that legal?

Generally no. NY GOL §7-108 caps the total of any "deposit or advance" at one month's rent on top of regular rent. A landlord cannot collect first, last, and a security deposit on a residential lease. The exceptions are seasonal-use units and owner-occupied co-ops.

How much can a Colonie landlord charge for a security deposit?

No more than one month's rent. New York General Obligations Law §7-108, as amended by the 2019 HSTPA, caps residential security deposits statewide at one month's rent for every unregulated tenancy. The landlord also may not charge a separate move-in fee, last-month-rent advance, or application fee above $20 under Real Property Law §238-a. Colonie has not adopted any stricter local ordinance.

When does a Colonie landlord have to return my security deposit?

Within 14 days of the date you vacate, under GOL §7-108(1-a)(e). The landlord must return the deposit less itemized deductions and provide a written itemized statement of any damages claimed. A landlord who misses the 14-day deadline forfeits the right to assert any deductions and must return the full deposit. Willful failure exposes the landlord to punitive damages of up to twice the deposit.

Do I have the right to a pre-move-out inspection in Colonie?

Yes. GOL §7-108(1-a)(c) gives every New York residential tenant the right to a pre-move-out inspection between 1 and 2 weeks before the tenancy ends, conducted with the tenant present, and a written statement of the repair items the landlord intends to charge against the deposit. This gives the tenant an opportunity to make the repairs and avoid the deduction. Enforcement is in Colonie Town Court or in small-claims court.