New York State Changes Rent Law - You Need to Know
2024-05-27
With the rising house prices in New York, more people are looking to rent. If you're one of them, it's important to know about the recent changes brought in by the "Housing Stability and Tenant Protection Act of 2019."
If you're searching for a new place, here's some good news: landlords in New York can now only charge up to one month's rent as a security deposit. This means you won't have to spend a fortune just to move in.
This rule applies to all residential rentals, with a few exceptions. Additionally, if your monthly rent is $1500, your security deposit cannot exceed that amount. Here's another positive change: you no longer have to pay the last month's rent in advance while also paying a security deposit.
Late Fees and Credit Checks: Keeping it Fair
For those who tend to procrastinate when it comes to paying rent, there's some relief. A payment is considered late only if it's more than five days overdue. The late fee charged by your landlord cannot exceed $50 or 5% of your monthly rent, whichever is less. As for background and credit checks, you can avoid those fees by providing your own recent check.
Lease Breaks Made Easier
If you're thinking of moving before your lease ends, your landlord now has the responsibility to find a new tenant who will pay the same or higher rent before you leave. If they succeed, you are no longer liable for the remaining lease.
Receipts, Evictions, and Security Deposits: Knowing Your Rights
Landlords cannot reject you as a tenant based on past issues with previous landlords. If you face eviction, there's a possibility of getting up to a year to find a new place if you're unable to find one in the same area and neighborhood.
What about getting your security deposit refunded? Your landlord must now return it within 14 days after you move out, along with proof of any deductions made.
NEW YORK STATE RENT PRICES 2024
The average rent in New York State is slightly below the national average, at $1,315 per month. However, this number can vary significantly depending on which part of the Empire State you live in. Here are the average rent prices for 10 cities in New York State:
Here are some towns in New York with "twin" towns located in different counties:
Albion, NY: One Albion is in Orleans County, while the other is located 2 1/2 hours away in Oswego County.
Ashland, NY: One Ashland is in Chemung County, and the other is around 2 hours and 37 minutes away in Greene County.
Brighton, NY: One Brighton is in Monroe County, but the other is over 5 hours away in Franklin County.
Chester, NY: One Chester is in Orange County, while the other is situated 3 hours away in Warren County.
Clinton, NY: Clinton County is home to one Clinton, whereas another is found 4 hours away in Dutchess County.
Dickinson, NY: Dickinson has one town in Broome County and another around 4 hours away in Franklin County.
Franklin, NY: There's a town named Franklin in Franklin County, and another one located 4 hours and 10 minutes away in Delaware County.
Fremont, NY: Fremont can be found in Sullivan County, while another town with the same name is located 3 hours away in Steuben County.
Greenville, NY: These particular towns are not far from each other. One Greenville is in Greene County, and the other is about an hour and 40 minutes away in Orange County.
Lewis, NY: Lewis County is home to one Lewis, and another town with the same name is situated 3 hours and 6 minutes away in Essex County.
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