Can a NYC Landlord Ask for First and Last Month's Rent Plus a Security Deposit?

Nick at Hauseit (https://www.hauseit.com) reveals whether it's legal for a NYC landlord to ask for first and last month's rent plus a security deposit. Save money when buying in NYC with Hauseit: https://www.hauseit.com/buyer-closing-credit/

Learn how to save money when buying, selling and renting real estate in New York and Florida with Hauseit (https://www.hauseit.com). Available in NYC, Long Island, the Hudson Valley and South Florida. Established 2014. How it works: https://www.hauseit.com/how-it-works/
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A law was passed in 2019 which caps the allowable amount of advance rent payments and security deposits here in the state of New York. Therefore, a landlord in NYC may not
ask for anything more than the first month of rent plus one month of security.

In total, the maximum legal outlay for you notwithstanding the broker fee of course is two months of rent. The first month of rent of course and then that second month which is effectively your security deposit.

You should not pay first and last plus a security deposit in new York because as of 2019 that is no longer legal.
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Save money when buying, selling and renting real estate in New York and Florida with Hauseit (https://www.hauseit.com). Available in NYC, Long Island, the Hudson Valley and South Florida. Established 2014. Learn how it works: https://www.hauseit.com/how-it-works/

Hauseit Group LLC, Licensed Real Estate Broker
Tel: +1 (888) 494-8258
Email: [email protected]
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