Security Deposit
Started by sd0
almost 19 years ago
Posts: 23
Member since: Nov 2006
Discussion about
I just vacated the apartment I was renting because the lease ran off and the landlord didn't want to renew. It was left clean and in good condition. How much time does the landlord has to return back my security deposit? All I've been able to find on the internets is "reasonable time", but nothing specific like "14 days" or "30 days". Anyone has solid information on this? Thanks.
Look at your lease - it should contain the exact date (e.g., 30 or 60 days after term. of the lease). I have had leases that stated 30 or 60 days.
what if the lease doesn't say anything?
That's a bummer. I am guessing that have up to 60 days to get it back to you and no more. But that is just a guess.
the lease says "if tenant fully performs all terms of this lease, pays rent on time and leaves the apartment in good conditions on the last day of the term, then landlord will return the security being held".
that's it
Call downtown, they'll know. Did you take pictures of the apartment after you cleaned it & just as you went out the door? I LOVE Judge Judy & I'm sure that's what she'd advise. Next time - that way you avoid a 'he said, she said'.
I second #4's guess. I think (though am not certain) that that is the default timeline
I'm about to sign a lease with RoseNYC for an apartment in the Ellington, 52nd and 8th.
They want first month, plus two months security.
Comments? Caveats? Any input appreciated.
I manage several residential apartments as well as office buildings and I can tell you that it does take time to get your security back. I am ashamed to say that it can take 30 - 45 days.
Why? Well it takes time to vacate the premises from an office standpoint (computer, paperwork, etc.). Then a request must be sent to the bank where the security is being held. Sometimes the Owner has to first sign off on this. As you can imagine, Owners are just not sitting around. I sometimes have to remind Owners to do so. Then finally once the bank receives the request, they send a check back to the management company. Then this check needs to be deposted into the system and low and behold then a check is issued in the Tenant's name to finally be mailed out.
My advice is to call the management company about once a week and don't let up until you get it. Nudging the person (which as much as I hate that...it helps move it along...trust me) will help you not be "forgotten."
surely there must be a lawyer here that knows how long a security deposit can be held n NYC...
What difference will a lawyer have besides a nice strong letter.
I believe in NY it's 30 days plus interest on the security deposit. But, I'm not an attorney. Check www.tenant.net -- someone will definitely know the answer there.
I learned from past experience to always request a Walk Thru with the landlord or his rep. Then get them to sign off that it was in good condition. In New York you should get your deposit back within 30 days, plus 1% interest.
According to lease agreement they should be return your security within 60 days ..If they not you should contact law management.