By law, renters can question at any time where their security deposit is being held (bank and address). Correct? This is a co-op renting situation where the landlord owns one unit in the building. We are leaving our apartment and the landlord is dodging our questions regarding returning our security deposit. It is my understanding that it is our right to demand the money back if he cannot provide... [more]
By law, renters can question at any time where their security deposit is being held (bank and address). Correct? This is a co-op renting situation where the landlord owns one unit in the building.
We are leaving our apartment and the landlord is dodging our questions regarding returning our security deposit. It is my understanding that it is our right to demand the money back if he cannot provide information on where it is.
We want to withhold our last months' rent if he does not provide this information to us. However, we realize we are not supposed to use the security deposit to pay for a last months' rent.
Has anyone else did this? The landlord technically would have no grounds to sue as he did not abide by the law regarding our security deposit, but do not want reprocussions (i.e. a hit on our credit report, sue, etc.)
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Response by Consigliere
almost 14 years ago
Posts: 390
Member since: Jul 2011
It should say in your lease, how the security deposit is held and how it is to be returned.
Just out of curiosity, what good does it do if he shows you an account where the money is kept? That doesn't mean he will give it back to you. It just would show you where the money is kept.
In my experiences the last month of the lease is always a weird time. It should be simple, the tenant leaves, doesn't damage the apartment (other than normal wear and tear) and removes their "stuff." And then the Landlord should return the money promptly.
It doesn't always work this way. It is unfortunate because it is quite simple. I think what some "slick" tenants do is not pay the last month's rent. These "slick" tenants believe the cost/benefit of a landlord starting a non-payment proceeding is low and they hope the landlord will just take the security deposit instead of the last month of rent. Kind of like an unwritten agreement.
Side note: The Landlord would have grounds to sue (you broke the lease by not paying rent and using the security deposit as rent), so don't be mistaken with that. Just because the Landlord breaks the "law" doesn't mean you can break the lease. It doesn't mean he will win and it doesn't mean he will sue. I am just saying he could sue.
Hope this helps.
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Response by gcondo
almost 14 years ago
Posts: 1111
Member since: Feb 2009
In a buildling with more than a few units, the landlord must put your sec deposit in an interest bearing acocunt separate from his other funds. You are entitled to the interest, but landlord is also entitled to a percentage of the deposit for "administration". Um, follow your lease and communicate everything to your landlord via certified mail return receipt.
It should say in your lease, how the security deposit is held and how it is to be returned.
As for the law...
http://www.housingnyc.com/html/resources/dhcr/dhcr9.html
Just out of curiosity, what good does it do if he shows you an account where the money is kept? That doesn't mean he will give it back to you. It just would show you where the money is kept.
In my experiences the last month of the lease is always a weird time. It should be simple, the tenant leaves, doesn't damage the apartment (other than normal wear and tear) and removes their "stuff." And then the Landlord should return the money promptly.
It doesn't always work this way. It is unfortunate because it is quite simple. I think what some "slick" tenants do is not pay the last month's rent. These "slick" tenants believe the cost/benefit of a landlord starting a non-payment proceeding is low and they hope the landlord will just take the security deposit instead of the last month of rent. Kind of like an unwritten agreement.
Side note: The Landlord would have grounds to sue (you broke the lease by not paying rent and using the security deposit as rent), so don't be mistaken with that. Just because the Landlord breaks the "law" doesn't mean you can break the lease. It doesn't mean he will win and it doesn't mean he will sue. I am just saying he could sue.
Hope this helps.
In a buildling with more than a few units, the landlord must put your sec deposit in an interest bearing acocunt separate from his other funds. You are entitled to the interest, but landlord is also entitled to a percentage of the deposit for "administration". Um, follow your lease and communicate everything to your landlord via certified mail return receipt.