Local law · Int 0626-2026
Providing tenants the option of paying a security deposit in six equal monthly installments
Official titleShow
A local law to amend the administrative code of the city of New York, in relation to providing tenants the option of paying a security deposit in six equal monthly installments
The heading above is this same sentence with its legal opening removed. No words were added, changed or reordered.
New York City Council
Summary
For residential tenancies that are six months or longer, this bill would provide tenants the option of paying a security deposit in six, equal, consecutive monthly installments added to the first six rental payments, respectively. Tenants with a shorter term tenancy of less than six months would be permitted the option of paying equal, consecutive monthly installments provided that the number of installments match the number of months of the tenancy. This bill could alleviate hardships associated with the requirement to pay a security deposit in one lump sum.
Summary from NYC Council (Legistar). How we handle summaries
From the NYC Council's legislative record (Legistar) and official rosters. This record was last updated Aug 1, 2026. About our data
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Where it stands
Assigned to a committee for review.
- Introduced
- In committee
- Up for a vote
- Passed one chamber
- Passed
- Enacted
Committee
Committee on Housing and Buildings
Cosponsors
Cosponsors in the order the New York City Council lists them.
- Democratic2
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Full history
- Feb 12, 2026
Introduced
This Introduction was Introduced by Council
NYC Council
- Feb 12, 2026
Referred to committee
This Introduction was Referred to Comm by Council to the Committee on Housing and Buildings
NYC Council