New NYC rent laws require security deposits to be returned in 14 days and landlords are fuming


NYC landlords were stunned by the landmark changes to the rent laws earlier this year and one broad change is causing them major distress.

While most of the rent reforms are aimed at strengthening protections for stabilized tenants, there are some measures that extend to market-rate tenants as well. One of these, a new requirement to return a departing tenant’s security deposit within 14 days, is nearly impossible to comply with, landlords say.

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