Rent to Own Down Payment

[Cheryl James]

I understand that the landlord-tenant laws in NY were changed last summer, is there a limit to the amount of a down payment you can get if you are selling via rent to own?  Thanks in advance.

[Kyle Affronti]

Here is a summary of the Housing Stability and Tenant Protection Act of 2019.

I hope this helps shed some light on it. I think (Do your own due diligence of course) but I believe it limits the amount of a security deposit to one month's rent. 

Summary of Housing Stability and Tenant Protection Act of 2019