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The rules apply to all tenants, not just rent-regulated ones.
A security deposit is money a tenant deposits with the building owner that protects the owner if the tenant stops paying rent, skips out early on the lease, or damages the apartment. In New York, security deposits are governed by New York General Obligations Law §§7-103 to 7-108 and, most recently, the Housing Stability and Tenant Protection Act of 2019 (HSTPA).
