Renter's Rights & Security Deposits

Careful renters can usually get all of their security deposit back.

Most landlords require a security deposit upon move-in, but many states have laws regarding how much can be charged, what can be deducted, and when it needs to be paid back.

Security Deposit

A security deposit is charged by a landlord to offset the cost of repairing damaged caused by the renter and, in some cases, back rent if a renter defaults.

Security Deposit Amount

States have different laws regarding the size of a security deposit. In some states landlords cannot charge more than the amount of one month's rent. In other states the landlord can charge more or can request a special pet deposit.

Deductions

Landlords can deduct the cost of required repairs and from the security deposit, but cannot deduct for "normal wear and tear." Tenants in most states have the right to an itemized list of deductions.

Interest

Some states and municipalities require that landlords pay tenants interest on their security deposit.

Deposit Return

State laws require that a security deposit be returned to a tenant within a certain period of time (usually 30 to 45 days) after the lease ends and the tenant moves out.

Walk-Through Inspection

In some states the renter can require the landlord to accompany him on a walk-through inspection of the property prior to the end of the lease. If damage is found, the tenant has the opportunity to correct it.

References

• Nolo: Get Your Security Deposit Back
• Nolo: Protect Your Security Deposit When You Move In
• Nolo: Security Deposit Limits