My question involves landlord-tenant law in the State of: New York City, New York
Hello. I am a tenant in a rental apartment in NYC. I currently do not reside in the unit, but I have a legal and authorized subtenant. We have a formal sublease agreement, making me the sublandlord and him the subtenant. The building has more than 6 units. I, however, only lease, and sublease one of them. Pursuant to the sublease agreement, the subtenant has paid me a deposit to be used for damages and cleaning. There is no language in the sublease agreement regarding how the security is to be held. Am I required to keep the security deposit in an interest bearing account? I know that the Master Landlord is required to to do so under NYC law , but as a sub-landlord, am I required to keep my subtenant's security in an interest bearing account? Thanks in advance.