If you rented a house or apartment from a New York landlord, the landlord most likely required you to give a security deposit before you were allowed to move in. Usually, the security deposit is equal to a month’s rent. If a person chooses to renew his or her lease, and the rent is increased, the landlord is allowed to request additional money from the tenant so that the security deposit equals one month’s rent.

By law, a security deposit refundable to the tenant at the end of the lease, minus any reimbursements for repairs that go beyond normal wear and tear or for any unpaid rent. The landlord must return the deposit within a reasonable time after the lease expires, and should return the deposit whether it’s asked for or not by the tenant.

If an apartment building or home you are renting is sold during your lease, the landlord must transfer all deposits to the new owner within five days of the sale, or should return the deposits to the tenants. Landlords must also notify the tenants in writing of the name and address of the new owner.

As you can imagine, there are a lot of disputes about security deposits between landlords and tenants. In order to avoid any potential problems, tenants should inspect the apartment before moving in. The inspection should include pictures of any pre-existing problems and thorough notes about the problems. If a landlord then tries to claim that the apartment was damaged, the tenant can produce evidence that the apartment was in the same condition as when the tenant moved in.

If you are having an issue with a security deposit, call the New York landlord/tenant attorneys at Friedman & Ranzenhofer at 585-484-7432. Our attorneys will help guide you through the legal steps you need to take to protect yourself. Call today.