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Security deposits, explained
Limits, deductions and deadlines vary by state.
A security deposit protects the landlord against unpaid rent or damage beyond normal wear and tear. Many states limit how much it can be and how quickly it must be returned.
Good to know
- Many states cap deposits, often at one or two months' rent
- Normal wear and tear generally can't be deducted
- Landlords usually must return the deposit, or an itemized list of deductions, within a set number of days
- Some states require deposits to be kept in a separate account or earn interest
Check your state
Your state attorney general or housing agency website usually explains the rules.
General information, not legal advice. Smart Penny Path isn't paid by any landlord, listing site, mover or insurer.