New York landlords

New York landlord software built around HSTPA

New York's Housing Stability and Tenant Protection Act of 2019 changed the rules for almost every landlord in the state. Longer notice periods, a one-month deposit cap, a 14-day return deadline, and NYC rent stabilization on top of it all. LeaseRooster tracks the HSTPA deadlines so a missed one does not cost you the case.

About New York

New York caps the deposit at one month's rent statewide, and then adds a bookkeeping duty most landlords miss. If the building has six or more apartments, the deposit has to sit in an interest-bearing account and the interest belongs to the tenant, less 1 percent of the deposit that you may keep as an administrative fee. If you sell the building, the deposits go to the new owner within five days, or back to the tenants, and you notify the tenants by registered or certified mail.

  • Source: New York Attorney General, rent security deposits (https://ag.ny.gov/resources/individuals/tenants-homeowners/tenants/recovering-rent-security-deposits-and-interest)

Security deposit cap

1 month rent

  • HSTPA 2019 (GOL § 7-108). Applies to nearly all residential rentals in New York regardless of rent level.

Deposit return deadline

14 days after vacating

  • For leases signed after June 14, 2019. Itemized statement of deductions required. Late return forfeits the right to deduct.

Non-payment notice

14-day demand for rent

  • RPAPL § 711(2). A written 14-day rent demand is required before filing a non-payment proceeding in Housing Court.

Termination notice periods

30 / 60 / 90 days

  • Less than 1 year: 30 days. 1 to 2 years: 60 days. 2 or more years: 90 days. RPAPL § 226-c (HSTPA 2019).

NYC rent stabilization

Applies to most pre-1974 buildings with 6+ units

  • Buildings with 6 or more units built before January 1, 1974, are generally subject to rent stabilization unless exempt. The NYC Rent Guidelines Board sets the annual increase.

Landlord entry notice

Reasonable advance notice

  • New York law does not specify a minimum. Landlords should provide at least 24 hours written notice for routine entry; shorter notice is permitted for emergencies.

The numbers that matter

6 apartments: Where the interest-bearing account duty starts

Source: https://ag.ny.gov/resources/individuals/tenants-homeowners/tenants/recovering-rent-security-deposits-and-interest

1%: Of the deposit you may keep as an administrative fee

Source: https://ag.ny.gov/resources/individuals/tenants-homeowners/tenants/recovering-rent-security-deposits-and-interest

5 days: To transfer deposits when the building is sold

Source: https://ag.ny.gov/resources/individuals/tenants-homeowners/tenants/recovering-rent-security-deposits-and-interest

Stay compliant under New York landlord law

The one-month HSTPA deposit cap and your rent accounting, tracked in one place. No card needed for your first 3 units.