Landlord Can Increase Deposit When MCI Rent Increase Granted
LVT Number: 15684
Tenant asked the DHCR if landlord could demand an increased security deposit when an MCI increase became collectible during a lease term. In an opinion letter, the DHCR said yes. This is stated in the DHCR's fact sheet on security deposits. If the rent is lawfully increased during the lease term, landlord can collect additional money from tenant to bring the security deposit up to the new monthly rent.
DHCR Opin. Ltr. by Charles Goldstein (12/7/01) [2-pg. doc.]