Stringer wants one-month cap on renters’ security deposits

City Comptroller Scott Stringer wants new restrictions on renters’ security deposits. A new report by the comptroller’s office found that New Yorkers spent approximately $507 million on security deposits in 2016, Pix 11 reported. “Right now, the landlords are collecting all this money and it’s doing nothing for the tenants,” Stringer said. Stringer has proposed that the state introduce legislation that would put a one-month cap on the deposits landlords can require of tenants, similar […]Home Page,Real Estate Finance