What are the procedures in regard to returning a security deposit to a tenant at the time of lease termination?
Answer provided by Neil B. Garfinkel, REBNY Broker Counsel, Partner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP Answer: The Housing Stability and Tenant Protection Act of 2019 (“HSTPA”) created a specific time frame and procedure for landlords to follow when returning a tenant’s security deposit at the end of a lease term. […]
