State law guide · Checked November 14, 2026

New York landlord rules: late fees, deposits and rent increases

New York sets firm numbers for late fees, deposits and rent increase notice, and it applies them statewide. Here is what the Real Property Law and the General Obligations Law say, with the section for each rule.

Late fees in New York

Limit

$50 or 5% of the monthly rent, whichever is less. N.Y. Real Prop. Law § 238-a(2)

Grace period

Five days. No late fee may be demanded unless rent hasn't been paid within five days of the date it was due. N.Y. Real Prop. Law § 238-a(2)

Other conditions

A lease can't waive these limits. N.Y. Real Prop. Law § 238-a

Security deposits in New York

Maximum deposit

One month's rent. The limit covers any deposit or advance. Seasonal rentals and owner-occupied co-op apartments have their own rules. N.Y. Gen. Oblig. Law § 7-108(1-a)(a)

Return deadline

14 days after the tenant has vacated. N.Y. Gen. Oblig. Law § 7-108(1-a)(e)

Itemized deductions

Required, within the same 14 days. A landlord who doesn't provide the itemized statement and the balance within 14 days loses any right to keep part of the deposit. N.Y. Gen. Oblig. Law § 7-108(1-a)(e)

Interest

Required in buildings with six or more units. There the deposit goes in an interest-bearing account at the prevailing rate. The tenant gets the interest, less 1% a year the landlord may keep for administrative costs. The same split applies whenever a deposit is kept in an interest-bearing account. N.Y. Gen. Oblig. Law § 7-103

How it's held

In trust, in a bank in New York, and not mixed with the landlord's own money. Tell the tenant in writing the name and address of the bank and the amount. N.Y. Gen. Oblig. Law § 7-103

Penalty

Actual damages, and up to twice the deposit in punitive damages for a willful violation. N.Y. Gen. Oblig. Law § 7-108(1-a)(g)

Rent increases in New York

Notice to raise rent

Written notice for an increase of 5% or more: 30, 60 or 90 days. 30 days if the tenant has lived there less than one year and has a lease of less than one year. 60 days for more than one year but less than two, or a lease of at least one year but less than two. 90 days for more than two years, or a lease of at least two years. The same notice applies if you don't intend to renew. N.Y. Real Prop. Law § 226-c

Statewide cap

No flat cap. The Good Cause Eviction law sets a standard where it applies. It applies in New York City and in any city, town or village that adopts it by local law. There, a rent increase above 5% plus the regional change in consumer prices, or 10%, whichever is lower, is presumed unreasonable. Small landlords (ten units or fewer in the state, unless a local law sets another number) and several other categories are exempt. The law is set to end June 15, 2034. N.Y. Real Prop. Law §§ 211, 213, 214, 216

City rent control

Set through state law. Rent stabilization applies in New York City and in localities that opt in under the state's Emergency Tenant Protection Act. Units under rent stabilization follow their own rules. Emergency Tenant Protection Act of 1974

This page covers New York state law for ordinary residential rentals. Cities and counties can add their own rules, and subsidized housing and mobile home lots follow different ones. Rent-stabilized and rent-controlled units in New York follow separate rules that this page doesn't cover.

Questions landlords ask

Free templates you can use in New York

These are plain templates that aren’t tied to one state. Fill in the numbers your statute and lease call for.

• Rent increase letter kit: increase notice, renewal offer, pricing worksheet and delivery log.
• Late rent notice kit: friendly reminder, past-due notice, payment plan and delivery log.
• Security deposit return kit: itemized return letter, wear-and-tear guide and move-out checklist.
• Move-in kit: inspection checklist and deposit receipt, signed by the tenant.
• Rent ledger: running tenant balances and printable statements.

This guide is general information, not legal advice. It summarizes state statutes as read on November 14, 2026; laws change and courts interpret them. Check the current statute (N.Y. General Obligations Law § 7-108) or talk to a local attorney before you act.