Overview
Major metros: New York City, Buffalo, Rochester. AvalonBay and Equity Residential dominate new construction, while a long tail of independent landlords own most of the rent-stabilized inventory.
Tenant law cheat sheet
- Security deposits. Deposit capped at 1 month's rent. Must be returned within 14 days of move-out, with itemized deductions.
- Rent increases. Free-market: 30-90 days' notice depending on tenancy length. Stabilized: governed by the Rent Guidelines Board.
- Eviction notice. 14-day notice for non-payment; just-cause protections for many tenants.