Landlords Who Withhold Security Deposit Could be Fined in New Paltz
The Village of New Paltz has a lot of rental properties. SUNY Students make up a large portion of renters and some landlords don’t always do the right thing.
If you have ever had a bad landlord, you know how difficult it can be to get your security deposit back at the end of the lease. The Village of New Paltz wants to put some added pressure on landlords who don’t have a good reason for not giving back the security deposit. The fines could be very steep for violators.
According to Hudson Valley One, the Village of New Paltz trustee Dennis Young says that some landlords in the village are in favor of a steep fine. They want something that will induce a quick response by a shifty landlord.
Those who are actually in the business of renting believed that the original idea of levying fines of $10 per day of delay in refunding security would not be sufficient incentive, Young said. “They thought we should charge 25 percent of the deposit every week for the first four weeks.”
25 percent would get their attention alright. There would have to be a change in the housing standards part of the Village Code, so there is no date for this to go into effect. There is a landlord/tenant relations council that has been asked for their input before further steps are taken.
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