Notably, defendant is only seeking to invoke a deemed renewal as a defense to its failure to return a security deposit. Generally, security deposits for rent-stabilized units may not exceed the value of one month's rent and must be deposited in an interest-bearing account (see RSC § 2525.4). The RSC further states that only "at the tenant's option, the balance of the interest paid by the banking organization shall be applied for the rental of the housing accommodation, or held [*3]in trust until repaid, or annually paid to the tenant" and otherwise refers to article 7 of the General Obligations Law to govern security deposits (RSC § 2525.4 [c] [emphasis added]).
A security deposit remains the property of the tenant (see General Obligations Law § 7-103 [1]) and must be returned at the conclusion of the tenancy absent, for example, proof that the tenant caused damage beyond that attributable to ordinary wear and tear (see id.; Community Prods., LLC v Northvale Prop. Assoc., LLC, 61 AD3d 806 [2d Dept 2009]). In the case at bar, there was no claim of damage to the premises.
Accordingly, judgment is for the claimant in the amount of $1,791.33 with the interest it earned pursuant to the General Obligations Law and the Rent Stabilization Code and statutory interest from the date of suit, plus costs and fees.