Int 1424-2019
Limiting rental security deposits to one month of rent.
IntroductionFiledCommittee on Housing and Buildingsintroduced 2019-02-13
Filed — closed without being enacted.
Official record · Legistar
Agenda: 2019-02-13Passed: 2021-12-31
Summary
This bill would limit the amount that individuals, corporations, or entities can collect as a security deposit in a rental real estate transaction to the value of one month’s rent.
Committee on Housing and Buildings — Department of Housing Preservation and Development, Department of Buildings and rent regulation.
How it compares
30% of similar bills passed
15 passed · 35 died
This bill: 1052 days in committee
Similar bills: median 615 days · 34 days when passed
Compared against 50 Introduction bills in Committee on Housing and Buildings.
Ranked by how closely each matches this bill's topic — closest first:
Int 1423-2019
Limiting the fees charged in a rental real estate transaction.
1052dFiled
Int 1431-2019
Requiring the return of security deposits within 14 days of the end of a lease.
1052dFiled
Int 0428-2022
Providing tenants the option of paying a security deposit in six equal monthly installments.
591dFiled
Int 0421-2024
Providing tenants the option of paying a security deposit in six equal monthly installments.
672dFiled
Int 1433-2019
Providing tenants the option of paying a security deposit in six equal monthly installments.
1052dFiled
Int 0252-2024
Requiring landlords to provide tenants with documentation of damages when deducting money from a tenant’s security deposit.
671dFiled
+ 44 more comparable bills
Sponsors (25)
Public Advocate Jumaane Williams
Lifecycle
IntroducedIntroduced by Council
2019-02-13 · City Council
ActionReferred to Comm by Council
2019-02-13 · City Council
HeardHearing Held by Committee
2019-06-27 · Committee on Housing and Buildings
HeldLaid Over by Committee
2019-06-27 · Committee on Housing and Buildings
ClosedFiled (End of Session)
2021-12-31 · City Council
Heard at (3)
Committee on Housing and Buildings · 2019-06-27 · 1:00 PM · Council Chambers - City Hall
Committee on Housing and Buildings · 2019-06-11 · 10:00 AM · Council Chambers - City Hall
City Council · 2019-02-13 · 1:30 PM · Council Chambers - City Hall
Attachments (8)
- Summary of Int. No. 1424
- Int. No. 1424
- February 13, 2019 - Stated Meeting Agenda with Links to Files
- Hearing Transcript - Stated Meeting 2-13-19
- Minutes of the Stated Meeting - February 13, 2019
- Committee Report 6/27/19
- Hearing Testimony 6/27/19
- Hearing Transcript 6/27/19
Full text
Be it enacted by the Council as follows:
Section 1. Title 26 of the administrative code of the city of New York is amended by adding a new chapter 23 to read as follows:
CHAPTER 23
SECURITY DEPOSITS IN REAL ESTATE TRANSACTIONS
� 26-2301 Definitions.
� 26-2302 Security deposits in rental real estate transactions.
� 26-2301 Definitions. As used in this subchapter, the following terms have the following meanings:
Rental real estate transaction. The term "rental real estate transaction" means a residential real estate transaction involving the rental of real property.
Security deposit. The term "security deposit" means money, whether cash or otherwise, paid to a landlord to be held for all or part of the term of a tenancy to secure performance of any obligation of the tenant under the rental agreement.
� 26-2302 Security Deposits in rental real estate transactions. It shall be unlawful for any individual, corporation or entity to collect a security deposit in connection with a rental real estate transaction from a tenant or prospective tenant which, in the aggregate, exceeds the value of one month of rent of the property in such transaction.
� 2. This local law takes effect 60 days after it becomes law, and shall only apply to rental real estate transactions entered into on or after the effective date of this local law.
SIL
LS # 7647, 7625, 7654, 7669
11/21/18
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