What's happening
This bill requires landlords to refund any security deposit amount above one month's rent to senior tenants aged 62 or older who have lived in a unit for five or more years.
Why it matters
Reduces financial burden on long-term senior tenants. by ensuring they do not have to keep large sums tied up in security deposits, potentially freeing up money for other essential expenses.
Applies retroactively to existing tenants. who turn 62 during their lease and have lived in the unit for five or more years, not just to new leases, offering immediate relief to qualifying seniors.
Requires proactive communication. seniors must notify their landlord upon turning 62 to receive the refund, which could impact how easily tenants can access the benefit.
May influence landlord practices. , possibly making housing more accessible for older adults but also potentially leading to changes in how landlords assess risk or set other rental terms for long-term senior tenants.
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Who cares
Headline styles
Refund Rent Deposits for Seniors
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to judiciary
- Referred to judiciary
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2576
2017-2018 Regular Sessions
IN ASSEMBLY
January 20, 2017
Introduced by M. of A. PRETLOW -- read once and referred to the Committee on Judiciary
AN ACT to amend the real property law, in relation to entitling senior citizens to a refund of the portion of a security deposit exceeding one month's rent
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The real property law is amended by adding a new section 235-h to read as follows:
§ 235-h. Senior citizens security deposit refund. No landlord may charge more than the equivalent of one month's rent as a security deposit for residential rental premises occupied by any tenant who has attained the age of sixty-two years or older and who has occupied such residential rental premises for five or more years. Upon attaining sixty-two years of age during the term of occupancy, any tenant who notifies the landlord shall be entitled to a refund of that portion of any security deposit held by the landlord in excess of one month's rent.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05276-01-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.