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Assembly Bill A6517

2019-2020 Legislative Session

Relates to the amount of security deposit that a landlord may charge a tenant

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Archive: Last Bill Status - In Assembly Committee

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2019-A6517 (ACTIVE) - Details

Current Committee:
Assembly Judiciary
Law Section:
General Obligations Law
Laws Affected:
Amd §7-108, Gen Ob L

2019-A6517 (ACTIVE) - Summary

Relates to the amount of security deposit that a landlord may charge a tenant; prohibits landlords from requiring a security deposit in excess of an amount equal to two months' rent.

2019-A6517 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6517
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 8, 2019
                                ___________
 
 Introduced  by  M.  of  A.  CYMBROWITZ  -- read once and referred to the
   Committee on Judiciary
 
 AN ACT to amend the general obligations law, in relation to  the  amount
   of security deposit that a landlord may charge a tenant
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subdivision 2 of section 7-108 of the  general  obligations
 law is amended by adding a new paragraph (f) to read as follows:
   (F)  EXCEPT  IN  INSTANCES WHERE STATUTES OR REGULATIONS PROVIDE FOR A
 LESSER PAYMENT, FEE, DEPOSIT OR CHARGE, NO LANDLORD, LESSOR,  SUB-LESSOR
 OR  GRANTOR  MAY DEMAND ANY PAYMENT, FEE, DEPOSIT, OR CHARGE, INCLUDING,
 BUT NOT LIMITED TO, ANY PAYMENT, FEE, DEPOSIT, OR CHARGE THAT IS IMPOSED
 AT THE BEGINNING OF THE TENANCY TO BE USED TO REIMBURSE THE LANDLORD FOR
 COSTS ASSOCIATED WITH PROCESSING A NEW TENANT OR THAT IS IMPOSED  AS  AN
 ADVANCE PAYMENT OF RENT, USED OR TO BE USED FOR ANY PURPOSE, INCLUDING A
 SECURITY  DEPOSIT, IN AN AMOUNT OR VALUE IN EXCESS OF AN AMOUNT EQUAL TO
 TWO MONTHS' RENT, INCLUDING THE FIRST MONTH'S RENT.
   § 2. This act shall take effect on the ninetieth day  after  it  shall
 have become a law.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09998-02-9

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