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Are there any statutes in New York that govern landlord's handling of tenant's security deposit for non-rent-controlled apartments?

Asked by Trulia New York, New York Wed Nov 21, 2012

For example, is the landlord legally required to keep deposit in separate interest bearing account and remit interest to tenant at the close of the lease? Is the landlord required to return deposit within X number of days?

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To my knowledge, the only time interest is attached to security is when there are more than four apartments in the building.

If there are four or less, no interest is accrued.

As a landlord, when my tenants vacate, I meet them at the vacant apartment to go over condition and bring a blank check.

I am not sure what the law says in this regard.

It might be in your best interest to contact a NYC Attorney for a consultation and advice.
1 vote Thank Flag Link Wed Nov 21, 2012
Gail is correct. It depends a few things. Consider consulting an Attorney.
1 vote Thank Flag Link Thu Nov 22, 2012
An attorney can better answer, however see link for helpful information...…
1 vote Thank Flag Link Wed Nov 21, 2012
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