How much security deposit can
a landlord charge?
All states allow landlords to collect a security deposit when
the tenant moves in; the general purpose is to assure that
the tenant pays rent when due and keeps the rental unit in
good condition. Half the states limit the amount landlords
can charge, usually not more than a month or two worth of
rent -- the exact amount depends on the state. Many states
require landlords to put deposits in a separate account and
some require landlords to pay tenants the interest on deposits.
What are the rules for returning security deposits?
The rules vary from state to state, but landlords usually
have a set amount of time in which to return deposits, usually
14 to 30 days after the tenant moves out -- either voluntarily
or by eviction.
Landlords may normally make certain deductions from a tenant's
security deposit, provided they do it correctly and for an
allowable reason. Many states require landlords to provide
a written itemized accounting of deductions for unpaid rent
and for repairs for damages that go beyond normal wear and
tear, together with payment for any deposit balance.
A tenant may sue a landlord who fails to return his or her
deposit when and how required, or who violates other provisions
of security deposit laws such as interest requirements; often
these lawsuits may be brought in small claims court. If the
landlord has intentionally and flagrantly violated the law,
in some states, a tenant may recover the entire deposit --
sometimes even two or three times this amount--plus attorney
fees and other damages.
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