AI Generated American Security Deposit Receipt
PDF & Word - 2026 Updated

This Security Deposit Receipt is made on 2024-10-15 between the Landlord, who is the owner or manager of the rental property, and the Tenant, who has deposited the security deposit with the Landlord.

Landlord Full Legal Name: [Landlord Full Name]
Landlord Address: [Landlord Full Address]

Tenant Full Legal Name: [Tenant Full Name]
Tenant Address: [Tenant Full Address]

The exact amount of the security deposit received is $1,500.00 (One Thousand Five Hundred Dollars).

The rental property that is the subject of this Security Deposit Receipt is an Apartment in Multi-Unit Building located at 123 Main Street, New York, NY 10001.

This Security Deposit Receipt is issued in connection with the lease agreement dated 2024-09-01 between the Landlord and the Tenant for the rental property described above.

The lease term commences on 2024-10-01 and ends on 2025-09-30.

The terms of the security deposit are further governed by Section 5: Security Deposit of the lease agreement.

The security deposit is provided to the Landlord to secure the performance of the Tenant under the lease agreement.

The Landlord may apply the security deposit solely to: (a) unpaid rent; (b) repair of damages to the premises, excluding ordinary wear and tear, caused by the Tenant or Tenant\’s guests; (c) cleaning of the premises upon termination of the tenancy; and (d) any other deductions expressly permitted under New York Real Property Law \§ 235-e and General Obligations Law \§ 7-108. The Landlord shall mitigate damages as required by law. The Tenant has the right to be present at the move-out inspection.

New York law does not require payment of interest on security deposits unless the Landlord holds more than five units, in which case the deposit must be placed in an interest-bearing account.

The Landlord shall pay the interest directly to the Tenant annually or at the end of the tenancy in accordance with applicable law.

The Tenant and the Landlord conducted an initial move-in inspection on 2024-09-30 to note any pre-existing conditions of the rental property.

Deductions may be made from the security deposit only for: unpaid rent; repair of damages beyond normal wear and tear caused by the Tenant or their guests; cleaning beyond ordinary wear and tear; and any other items expressly allowed under New York law. The Landlord shall mitigate any damages. Normal wear and tear is excluded from any deductions. The Tenant has the right to be present at the move-out inspection.

Normal wear and tear is excluded from any deductions from the security deposit.

The Landlord shall schedule a joint move-out inspection with the Tenant at a mutually convenient time no earlier than 14 days before the end of the tenancy. The Tenant has the right to be present. Any pre-existing damage documented in the initial move-in inspection dated 2024-09-30 shall not be deducted from the security deposit.

The lease terminates on 2025-09-30.

The Landlord shall return the security deposit or any remaining balance, along with any accrued interest, to the Tenant within 14 days after the Tenant vacates the premises and returns all keys, in accordance with New York General Obligations Law \§ 7-108.

The Tenant must provide the Landlord with a forwarding address in writing. The Landlord shall return the security deposit by check mailed to the Tenant\’s forwarding address within the specified timeframe.

If any deductions are made from the security deposit, the Landlord shall provide a written itemized statement of deductions, including receipts or estimates where required by New York law, to the Tenant within 14 days after the Tenant vacates.

The itemized deductions notice shall be provided to the Tenant by email or mail to the forwarding address supplied by the Tenant.

This Security Deposit Receipt is intended to comply with New York General Obligations Law \§ 7-108 and Real Property Law \§ 235-e. The maximum security deposit is limited only by agreement but is typically not more than two months\’ rent.

Any disputes over the security deposit shall be resolved in the courts of the State of New York or through mediation in New York County.

This Security Deposit Receipt constitutes the entire agreement between the Landlord and the Tenant regarding the security deposit and supersedes all prior understandings or agreements, whether written or oral.

If any provision of this Security Deposit Receipt is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

This Security Deposit Receipt shall be governed by and construed in accordance with the laws of the State of New York.

All notices required or permitted under this Security Deposit Receipt shall be in writing and shall be deemed duly given if delivered personally or sent by certified mail, return receipt requested, to the addresses of the Landlord and the Tenant as set forth in the lease agreement or to such other address as either party may designate by notice.

No variation of this Security Deposit Receipt shall be effective unless it is in writing and signed by both the Landlord and the Tenant.

The Tenant acknowledges receipt of a copy of this Security Deposit Receipt and confirms that the Tenant understands the terms outlined herein. Both parties confirm they have read and understood this document.