NY security deposit and rent *sigh*

[ModerateRepZero]

Currently I'm renting (subletting?) a room in an apartment, which has 2 other occupants. I have a short-term lease until end of Sept. My family had the idea of using the security deposit (1 month's worth of rent) to use for the final month (late aug-late sept), for several reasons, including the fact that there was no certainty that the tenant would be around to give the security deposit back.

I had a recent conversation with one of the tenants....he said that according to (NYC?) law, one cannot use the security deposit for rent, and that you have to give 30 days' notice to move out (not sure whether he meant moving out or breaking lease early).

So my question is, has anyone been able to substitute security deposit for rent (in NYC...or elsewhere?), and in NYC, how much notice do you have to give, and in what circumstances (ie. not renewing, or simply breaking lease prematurely)?

 

[vshah]

its always in the lease, you can't use security deposit for last month's rent.


p.s. i fucking hate NY real estate

 

[ModerateRepZero]

http://www.housingnyc.com/html/resources/attygenguide.html

browsing that atm

and it does seem like the security deposit cannot be used as rent (no surprise to me), since the deposit must be returned to the tenant *after* lease ends. Not during, nor before.

The landlord must return the security deposit, less any lawful deduction, to the tenant at the end of the lease or within a reasonable time thereafter. The landlord is obligated to return the security deposit whether or not the tenant asks for its return.

*Edit* more proof NYC security deposit can't be used as rent:
http://realestateqa.blogs.nytimes.com/2009/12/31/why-a-deposit-isnt-a-rent-payment/

 

[techs]

It really doesn't matter what's in the lease.
If you use the security deposit for the last months rent, by the time the landlord can evict you the month is up.

Where you will have a problem is if the landlord finds any damage at all.
Then if he takes you to court he can ask for penalties that include you not paying the rent for the last month.

To be protected you would have to be sure that you did NO damage at all, or only pay part of the rent for the last month. As long as the amount of rent you pay exceeds the amount of any damage, suing you would not be in the landlords best interest. What would he ask for? He would owe you money for the amount exceeding the damages.

Technically the landlord could take you to court, but what would be his complaint? He would have to show how your rent, which was essentially just late, harmed him. If there is no provision in the lease for a late payments he could probably only get a little interest, plus his legal fees.

Of course, I'm just blowing smoke. But that's how I see it.

 

[Gibson486]

You cannot use it for rent. Why? It is supposed to cover damage. Rent cannot be used as damage unless it is missed rent. In that case, damage can be missed income from non payment of rent.

Also, in MA, you simply cannot keep the deposit for damages. You have to give the tenant a detailed list (with prices) of what is being deducted from the deposit. If no list is given back and the deposit is not returned with in 30 days, the tenant is pretty much going to get triple damages (3 months rent) if they decide to go to court.

 

[JEDIYoda]

You cannot use it for rent. Why? It is supposed to cover damage. Rent cannot be used as damage unless it is missed rent. In that case, damage can be missed income from non payment of rent.

Also, in MA, you simply cannot keep the deposit for damages. You have to give the tenant a detailed list (with prices) of what is being deducted from the deposit. If no list is given back and the deposit is not returned with in 30 days, the tenant is pretty much going to get triple damages (3 months rent) if they decide to go to court.

MA is no0t NY!!!

 

[Gibson486]

MA is no0t NY!!!

Does not matter, you cannot use it for the rent regardless in most states.