Property Management
In New York, a security deposit for a residential rental may NOT exceed:
AOne month's rent for all residential rentals✓ Correct
BTwo months' rent
CThree months' rent
DAny amount agreed upon in the lease
Explanation
Under New York's Housing Stability and Tenant Protection Act of 2019, residential security deposits are capped at one month's rent for all residential rentals, regardless of whether the unit is rent-stabilized.
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