On Oct. 16, 2025, NY LEG governor approved bill, assigned Chapter 436.
On May 27, NY LEG passed bill to protect rent stabilized dwelling units.
NY LEG passed Bill A 6423 (S 952) to amend NY general obligations law, NY LEG 24-A-7-1-7-107, to make rent stabilized dwelling units eligible for certain protections.
Rent Stabilized Units
No deposit or advance will exceed one month's rent, under lease or tenant contract.
The entire amount of a rental deposit/advance must be refundable to tenant upon the tenant's vacating of premises except for non-payment, utilities, damage, storage costs
Landlord must provide an itemized statement of damages and return deposit balance within 14 days, tenant must be allowed to inspect rental premises before signing lease.
Grantee/assignee of leased premises can demand that escrow account be opened.
Legislative History
On Jan. 8, 2025, bill introduced in Senate; on Apr. 29, 2025, bill passed in Senate.
On Apr. 29, 2025, bill introduced in Assembly; on May 27, 2025, bill passed Assembly.
Effectiveness
Act takes effect on the 30th day after it becomes a law and applies to any lease/rental agreement or renewal of a lease/rental agreement entered into on or after such date.
Oct. 2025 Bill Approval
On Oct. 16, 2025, NY LEG governor approved bill, assigned Chapter 436.
Regulators
NY LEG
Entity Types
CNSM; Corp; MG Orig
Reference
Ch 436, 10/16/2025; Bill A06423A, S00952B, 5/27/2025; Citation: NY LEG 24-A-7-1-7-107;
