Village revises rules for security deposits
The village has revised its rental housing regulation that imposes penalties on landlords who do not return security deposits in a timely manner.
The amendment requires landlords to either return the deposit within 21 days or provide a notice explaining why it is being withheld.
Mayor Tim Rogers said the change was made to clarify the use of security deposits to pay for damage repairs.
“Our goal with this law is to make it harder for security deposits to be wrongfully withheld and for both landlords and tenants to have clear parameters about the process that needs to be adhered to when deposits are not fully returned,” Rogers said.
The regulation now states: “The written statement specifying the reasons for the retention of any portion of the security deposit shall be accompanied by a full payment of the difference, if any, between the security deposit and the amount retained.”
The regulation also states that if a landlord withholds any or all of a security deposit without explaining why, he or she “shall be liable to the tenant for an additional 25 percent of the entire security deposit in landlord’s possession.”
The revision also requires tenants — many of whom in the village are SUNY New Paltz students — to leave rental units in an “overall clean condition, as it was when the tenancy commenced,” with allowance for normal wear and tear.
Additionally, landlords are permitted to keep all or part of a security deposit to cover the cost of storing or disposing unclaimed property, nonpayment of rent and/or unpaid utility charges.