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NY A07072
Bill
Status
3/20/2025
Primary Sponsor
Gary Pretlow
Click for details
AI Summary
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Prohibits landlords from charging more than one month's rent as a security deposit for residential rental units occupied by tenants aged 62 or older who have lived in the premises for five or more years
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Requires landlords to refund any portion of a security deposit exceeding one month's rent to tenants who turn 62 during their tenancy, upon notification by the tenant
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Amends the Real Property Law by adding a new section 235-k specifically addressing senior citizen security deposit protections
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Takes effect immediately upon enactment
Legislative Description
Limits the amount of security deposit for residential rental premises which may be charged to a senior citizen who has occupied the premises for five years or more to the equivalent of one month's rent; entitles a person who has attained the age of sixty-two to a refund of that portion of any security deposit held by the landlord which exceeds one month's rent.
Last Action
referred to judiciary
1/7/2026