Laws Regarding Deposits
Security deposits are required by renters before they move into a rental unit, and landlords may only deduct from the deposit for certain reasons. While some states allow landlords to charge whatever they wish in regards to a security deposit, other states put a limit on how much can be charged. Landlords must return all, or a portion, of a renter's deposit within a reasonable time after they move out.
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Deductions
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Landlords do not have the legal right to make deductions from a renter's deposit for normal wear and tear; however, they may make deductions for damages done to the rental unit outside of normal wear and tear. Such damages must be itemized and all renters must be given an opportunity to make the repairs themselves before deducting from the deposit. Landlords may also use a renter's security deposit to pay any rent still owed when the renter moves out. Renters who have disputes with their landlords over deposit returns may file a lawsuit to recoup the money they are owed.
Laws
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Landlords may only charge a certain amount in some states for deposits. Some states put a limit on how much a landlord can charge in regards to a security deposit. In California, for example, a landlord may only charge two times the overall rent for rental units that are not furnished, and three times the overall rent for rental units that are furnished. In Ohio, however, landlords may charge whatever they wish in regards to a security deposit. Leases and rental agreements may not state that a security deposit is nonrefundable. Any lease that states this, signed or not, will not hold up in a court of law.
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Time Frame
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Landlords in California have 21 days to return a deposit. Different states have different laws in regards to how quickly a landlord has to return a renters full deposit or a portion of it. In California, for example, a landlord must return a renter's deposit, or the remainder after deductions are made, within 21 days of the renter moving out. In Alaska, a landlord must return a security deposit within 14 days, provided that the renter gave proper notice that he was moving out. If proper notice was not given, the landlord has 30 days to return all, or a portion of, the deposit back to the renter. Landlords in Rhode Island have only 20 days to return a deposit. Some states, such as Florida, allow the landlord more time to return a deposit if the renter has a dispute over deductions made.
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References
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