Landlord Can Increase Deposit When Rent Increased

April 30, 1997

LVT Number: 11487

A Yonkers tenant asked the DHCR if landlord could demand an increased security deposit when tenant renewed his lease. In an opinion letter, the DHCR stated that under the Tenant Protection Regulations, landlord could increase the security up to the new monthly rent upon lease renewal. And except for renewals of a lease in effect on Dec. 1, 1983, which validly required a greater deposit, security deposits were limited to one month's rent.

A Yonkers tenant asked the DHCR if landlord could demand an increased security deposit when tenant renewed his lease. In an opinion letter, the DHCR stated that under the Tenant Protection Regulations, landlord could increase the security up to the new monthly rent upon lease renewal. And except for renewals of a lease in effect on Dec. 1, 1983, which validly required a greater deposit, security deposits were limited to one month's rent. In addition, under 1996 legislation, no more than one month's security deposit could be demanded from, received, or retained from a tenant who was 65 years old or older.

DHCR Opin. Ltr. by Charles Goldstein (9/25/96) [3-page document]

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