Halfway through last year, I subleased my apartment unit and moved to a new location. I received a security deposit equal to the monthly rate paid by my subtenant. My rental company has informed me that their security deposit return policy - as per New York State law - is to return the deposit (minus applicable cleaning or maintenance fees) within 30 days of the end of the lease.
My question is: am I, the sublessor, bound by the same legal statute, even though I am not the property's owner or active manager?
In other words: is it be legal to wait until I have received my security deposit from the landlord before I return my subtenant's deposit, assuming it all occurs within the 30 day period?