In NYC, a security deposit for residential rentals cannot exceed:
Question & Answer
Review the question and all answer choices
One month's rent
Two months' rent
Two months' rent is incorrect because this exceeds the legal maximum under NY law for most residential properties. This option might tempt those familiar with regulations in other states that allow higher deposits.
Three months' rent
Three months' rent is incorrect as it significantly exceeds NY's legal limit. This option represents a common misconception about deposit amounts in high-cost rental markets.
No limit
No limit is incorrect because NY law specifically caps security deposits for residential rentals, providing important tenant protection against excessive financial burdens.
Why is this correct?
NY law limits security deposits to one month's rent for most residential rentals.
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