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In California, the security deposit cannot be nonrefundable. However, when the tenant moves out of the property, California law allows you to keep part or all of the security deposit if any one of the following situations are met: the tenant owes rent; the tenant has damaged the property (beyond normal wear and tear); the tenant left the property less clean from when they moved in; or the tenant has failed to restore personal property (such as keys or furniture).

If any of the above has occurred, at the time of move-out, you will need to provide the tenant with an itemized statement of the deductions. You will also need to give notice to the tenant of the deductions before actually deducting the amount from their deposit. This allows the tenant to dispute any charges if need be.

In California, you must either return the full amount of the deposit or provide the tenant with the itemized statement of deductions within 21 days after the tenant has vacated the property.

In Texas, there's no limit to the amount a landlord can charge as a security deposit.

Under Texas law, the landlord must return the tenant's security deposit or provide the tenant with a statement of the charges within 30 days after the tenant has moved out.

In New York, all landlords must treat the security deposit as a trust fund belonging to their tenant and are not allowed to commingle the deposit with their own money. Landlords of buildings with six (6) or more apartments must put all security deposits in New York bank accounts earning interest at the prevailing rate. Each tenant must be informed in writing of the bank's name and address and the amount of the deposit.

Landlords are entitled to collect annual administrative expenses of one percent (1%) of the deposit. All other interest earned on the deposit belongs to the tenant. Tenants must be given the option of having this interest paid to them annually, applied to their rent, or paid at the end of the lease term. If the building has fewer than six (6) apartments, a landlord who voluntarily places the security deposit in an interest bearing bank account must also follow these rules.

For example: A tenant pays a security deposit of $800. The landlord places the deposit in an interest bearing bank account paying 2.5% interest. At the end of the year, the account will have earned interest in the amount of $20.00. Therefore, the tenant is entitled to $12.00 and the landlord may retain $8.00 (1% of the deposit), as an administrative fee.

In Illinois, you don't need to pay the tenant interest on the security deposit unless the building has 25 or more units, or is located in Chicago, Evanston, or Mt. Prospect. If the property falls under one of these categories, then you should refer to your local housing authority.

In Florida, you must let the tenant know which bank their security deposit is being held at. If you don't know which bank you're using yet, you can send a notice to the tenant after the lease is signed. However, if you decide to send the notice later, then it must be sent within thirty (30) days of the tenant signing the lease.

In Georgia, there's no limit to the amount you can charge as a security deposit, but most landlords find it impractical to charge more than one or two month's rent. Additionally, in Georgia, you must give the tenant a list of pre-existing damage before collecting a deposit.

Under Georgia law, you must return the deposit within 15 days after the tenant vacates the property if you are returning the full deposit. If you plan to make any deductions, then you must send a written itemized list of deductions within 30 days of the tenant's departure; and you must account for and refund the balance of the deposit, if any, within 30 days after that.

Lastly, Georgia requires you to place the security deposit in a separate escrow account for the tenant. You're required by law to let the tenant know where the deposit is being held, but you're under no obligation to give them the account number or pay any interest on the deposit.

Under Pennsylvania law, the security deposit cannot be more than two (2) month's rent. Furthermore, if the tenant has stayed on the property for over one year, then you can only hold one month's rent as security deposit. For example, if the rent is $500 and you collect a $1000 security deposit at the time of signing the lease, then after one year, you'll have to refund half the security deposit back to the tenant.

Additionally, if the tenant remains on the property for two (2) years or more, then you'll also have to pay interest on the security deposit.

In Pennsylvania, you must let the tenant know where their security deposit is being held. If you don't know which bank you're using yet, you can send a notice to the tenant after the lease is signed.

In North Carolina, you can't charge more than one and half months' rent for month-to-month agreements, and two month's rent if the agreement is for a fixed term.

Additionally, you are required to hold the tenant's security deposit in a separate bank account and notify the tenant in writing of where their deposit is being held within 30 days after the beginning of the lease.

In Ohio, there's no limit to the amount you can charge as a security deposit. However you'll have to pay the tenant 5% interest per year on the amount of the deposit that exceeds one month's rent. For this interest to apply, the deposit must be greater than $50 and the tenant must have lived in the unit for at least six months.

For example, if the rent is $500 per month and the deposit is $1000, 5% interest is due to the tenant on the $500 excess, which would amount to $25 per year.

Under Ohio law, you must return the security deposit within 30 days after the tenant moves out. If the amount is less than the full deposit, then a written itemized statement of all deductions must be included as well.

In Virginia, the amount you can charge as a security deposit is limited to two (2) months' rent. The deposit can be used to recover rent and late fees, repair damages to the property (beyond normal wear and tear), or other lease violations.

Under Virginia law, you don't have to pay interest on the tenant's deposit unless the deposit is held for at least thirteen (13) months. After 13 months, you'll have to pay simple interest at the current rate in Virginia.

The deposit, along with any interest, must be returned to the tenant within forty-five (45) days after the tenancy ends, along with an itemized accounting of all deductions made.

In Michigan, you can't charge more than one and half months' rent as a security deposit. For example, if the rent is $500 a month, then the maximum you can collect as a security deposit is $750 ($500 x 1.5 = $750).

Under Michigan law, you must let the tenant know where their security deposit is being held within 14 days after they've taken possession of the property. You can include this information in the lease or you can send the tenant a notice.

Lastly, after the tenant vacates the property, you must return the security deposit within 30 days. The tenant is required to provide you with a forwarding address within four (4) days.

In New Jersey, the security deposit cannot exceed more than one and half (1 1/2) month's rent and any additional deposit, collected annually, can be no greater than 10% of the original security deposit.

Additionally, you must pay interest earned on the tenant's security deposit, either in annual interest payments or as a credit towards the tenant's rent. Also, within 30 days of receiving the deposit, you must give the tenant the name and address of the bank where their deposit is being held, the type of the account, current rate of interest, and the amount of the deposit.

Firstly in Washington, you cannot collect a security deposit unless you have provided the tenant with an inventory and inspection checklist. The checklist will be used to determine the refund at the end of the tenancy.

Secondly, you must provide the tenant with the name and address of the Washington financial institution where their deposit is being held.

In Washington, you must provide the tenant with an itemized list of deductions (if any) and their deposit within 14 days after the end of the tenancy.

Colorado does not have a limit on how much a Landlord can require a Tenant provide as a security deposit. The City of Boulder requires that interest be paid on security deposits when the deposit is returned to the Tenant, and sets annual percentage rates. Security deposits must be returned to the Tenant within 30 days of the termination of a lease or Tenant's vacating the premises. Security deposits may be withheld to cover unpaid rent, unpaid utility bills, repair work and extraordinary repair costs. Security Deposits may NOT be withheld to pay for repairs due to ordinary wear and tear. If a Landlord wrongfully withholds any part of a security deposit, they are liable for three times the amount wrongfully withheld, as well as court costs and reasonable attorneys' fees.

In Arizona, the security deposit is limited to one and a half month's rent (unless the tenant voluntarily accepts more). Additionally, you must state in writing the purpose of any nonrefundable fee collected from the tenant, if any. All fees not designated as nonrefundable are deemed refundable under Arizona landlord-tenant law.

Under Arizona law, you must return the tenant's security deposit, with an itemized statement of deductions, within 14 days after the tenant has moved out of the property.

In Tennessee, there's no limit to the amount you can charge as a security deposit. However, there are still some rules that you'll need to follow as a Tennessee landlord.

First, you'll have to let the tenant know where their security deposit is being held. Secondly, once the tenant moves out you'll have to inspect the property within three (3) days and provide the tenant with a list of any damages and the estimated cost to repair those damages. Once you agree on the damages and the cost to repair, you'll have 30 days to return the tenant's security deposit.

In Massachusetts, specific requirements must be met if you're collecting a security deposit from the tenant.

1. The deposit amount cannot be more than one (1) month's rent. However, you can still charge first and last month's rent as well.

2. You must provide the tenant with a statement of the condition of the property within ten (10) days after move-in.

3. You must place the deposit in a separate, interest bearing account in a Massachusetts financial institution. Additionally, you must notify the tenant of the amount, account number, and name and address of the bank where their deposit is being held.

If you fail to comply with any of these requirements, the tenant has the right to ask for their deposit back.

Under Missouri law, you can't charge more than two (2) month's rent as a security deposit.

At the end of the lease, you have 30 days to return the security deposit with an itemized list of damages for which any portion of the deposit is kept.

During that 30-day period, you must notify the tenant of the time and date when you plan to inspect the property. The tenant has the right to be present during the move-out inspection.

In Maryland, the security deposit cannot be more than two (2) month's rent.

The security deposit must be deposited in an escrow account for the sole purpose of maintaining the deposit. If the deposit is more than $50, you must pay the tenant simple interest, accrued every six months from the date the tenant gives you the deposit.

You'll have 45 days from the date the tenant moves out to return the deposit plus any interest, minus any damages withheld. If you withhold any part of the deposit, you must give the tenant a written list of damages, with a statement of what it actually cost to repair those damages.

In Indiana, there's no limit to the amount you can charge as security deposit. The only requirement is that you return the security deposit, along with an itemized list of damages and/or deductions (if any), to the tenant within 45 days after they've vacated the property.

Minnesota does not have a minimum or maximum amount that can be charged for a security deposit, although it is normally equal to one or two months' rent.

Security deposits must be returned to the tenant(s) within 3 weeks (21 days) of the tenant returning their keys and leaving the rental property. Landlords in Minnesota must also pay 1% simple noncompounded interest on the security deposit per year.

Under Alabama law, a security deposit cannot legally be more than one (1) month's rent. However, Landlords are allowed to collect additional deposits for pets, for undoing tenants' alterations, or deposits for dangerous activities (such as manufacturing on-site).

Security deposits must be returned to Tenants within 35 days of the lease terminating, or of the Tenant surrendering the premises to the Landlord.

Wisconsin's state laws place no limit on the amount landlords can charge for security deposits. Landlords do not need to provide any interest on amounts collected as security deposits, although a lease is allowed to contain an interest provision.

The landlord has 21 days after the end of the lease to send the tenant either the full security deposit or an itemized list of deductions. If the landlord doesn't return a deposit or the itemized list within 21 days, then the tenant may begin legal proceedings. Landlords may never deduct for "normal wear and tear" or for other losses that the tenant is not responsible for.

If the landlord returns the security deposit in the form of a check, all tenants' names should be on it unless tenants indicate otherwise in writing.

Under Oregon law, there is no limit on the amount that can be required by the Landlord as a security deposit. The security deposit can be used to cover unpaid rent, breaches of the lease, or damages to the property that are more than ordinary "wear and tear."

The security deposit, or what remains of it after paying the above expenses, must be returned to the Tenant within 31 days of the Tenant ending his tenancy.

There is no maximum or minimum amount for security deposits under South Carolina law, and no requirements that the Landlord pay interest on a security deposit or hold the security deposit in a separate account.

Security deposits may be used to cover unpaid rent, or for damages to the property other than normal wear and tear.

Security deposits must be returned to Tenants within 30 days of the lease terminating, or of the Tenant surrendering the premises to the Landlord.

Under Oklahoma law, there is no limit on the amount that can be required by the Landlord as a security deposit. The security deposit must, by law, be held in an escrow account with a federally insured financial institution.

The security deposit can be used to cover unpaid rent, breaches of the lease, or damages to the property that are more than ordinary "wear and tear". The deposit, or what remains of it after paying the above expenses, must be returned to the Tenant within 31 days of the Tenant ending his tenancy.

There is no maximum or minimum amount for security deposits under Louisiana law, and no requirements that the Landlord pay interest on a security deposit or hold the security deposit in a separate account. Security deposits may be used to cover unpaid rent, defaults under the lease, or for damages to the property other than normal wear and tear.

Security deposits must be returned to Tenants within one month of the lease terminating, or of the Tenant surrendering the premises to the Landlord, unless Tenants wrongfully abandon the premises.

Kentucky has no state limits on the amount to be held as a security deposit, and no requirement that security deposits be collected at all. However, if a security deposit is collected, the Landlord must hold it in a separate bank account, used only for security deposits. (Landlord may, under the law, hold multiple security deposits in the same bank account.)

The security deposit can be used by the Landlord to cover unpaid rent, breaches of the lease, and damages to the property beyond normal "wear and tear".

Kentucky law allows the Landlord to keep the security deposit if the Tenant does not claim a refund of the deposit. If the Tenant claims the security deposit, the Landlord must return it within thirty (30) days. If the Tenant does not claim the security deposit within sixty (60) days of abandoning the premises, the Landlord may keep the security deposit.

Nevada sets a maximum amount for security deposits as three (3) months' rent. Under Nevada law, a landlord and tenant may agree to use a surety bond as a security deposit.

The security deposit can only be used to pay for unpaid rent, damage beyond normal "wear and tear", and cleaning of the property. If the deposit is used for any of the above reasons, the Landlord must provide a written accounting of the expenses to the Tenant with the remainder (if any) of the security deposit within thirty (30) days of the end of the tenancy.

Under Connecticut law, security deposits cannot be greater than one month's rent if a tenant is over 62 years old at the time the lease is signed, and cannot be greater than two months' rent if the tenant is under 62 years old at the time that the lease is signed.

Connecticut requires that security deposits be placed in an escrow account, and requires that simple, non-compounded interest be paid on the deposit, at the rate set annually by the state. Security deposits may only be used by the Landlord to cover unpaid rent, other lease charges, or damage beyond normal "wear and tear".

Security deposits must be returned to the Tenant within 30 days of the lease ending, or 15 days after receiving notice of the Tenant's forwarding address, whichever is later.

Under Kansas law, a security deposit cannot be larger than one month's rent in an unfurnished property, or one and a half months' rent in a furnished property. Additional deposits are permitted, such as up to half a month's rent for a pet deposit (available later in this lease).

Security deposits must be kept in separate accounts from the Landlord's regular monies, and can only be used for unpaid rent, damages beyond normal "wear and tear" and breaches of the lease. If a Landlord uses the security deposit for any of the above reasons, they must provide the tenant with a written accounting of the charges, as well as the remaining money, if any, within 30 days of the end of the tenancy.

In Mississippi, there are no maximum or minimum amounts for security deposits; the Landlord has complete discretion in setting the amount. Security deposits may be used only to cover costs from Tenant's breach of lease, damage over normal wear and tear, or unpaid rent. If used for any of the above purposes, the Landlord must provide the Tenant with a written accounting of the deductions.

Security deposits not used as permitted above must be returned to the Tenant within 45 days of the end of the tenancy.

Arkansas law prohibits security deposits from being any larger than two months' rent. The security deposit can only be used by the Landlord to pay for Tenant's unpaid rent, or any damages resulting from Tenant's breach of the lease. If the Landlord uses the deposit in such a manner, Landlord must provide a written accounting of the charges to the Tenant, along with the remainder of the security deposit, within 60 days of the termination of the tenancy.

Under Iowa law, security deposits cannot exceed two months' rent. The security deposit must be stored in a separate bank account from the landlord's other funds (although it may be stored in an account with other security deposits).

Iowa law requires that, if the security deposit is held in an interest-bearing account, interest on a security deposit must be paid to the tenant if the tenancy lasts longer than five (5) years. However, the Landlord may keep all interest that accrues on the deposit from the first five (5) years of the tenancy.

Deposits can be used to cover unpaid rent, damage beyond regular "wear and tear", the cost of eviction when the tenant held the property in bad faith, and broken leases. Any amount not used for the above purposes must be returned to the tenant within 30 days of the tenant ending the tenancy.

New Mexico prohibits security deposits from being larger than one (1) month's rent if the lease is for less than one year. There are no such monetary limits on leases of one (1) year or more.

If the Landlord requires a security deposit of greater than one (1) month's rent, the Landlord must pay annual interest on the security deposit at the rate established by the state. The deposit may be used only to pay for damages resulting from the Tenant's breach of the lease, unpaid rent, or damages beyond normal "wear and tear". If the Landlord uses the security deposit in such a manner, they must provide the Tenant with a written accounting of the deductions, along with the remainder of the security deposit (if any) within thirty (30) days of the end of the tenancy.

The District of Columbia limits security deposits from being larger than one (1) month's rent, and requires that landlords place the deposit into an interest-bearing escrow account at a financial institution with at least one office in the District within thirty (30) days of receiving the security deposit. The account may hold multiple tenants' security deposits, but cannot be used for anything other than security deposits.

At the end of each calendar year, the landlord must provide the tenants with the location of their security deposits (bank address) and the prevailing interest rate for the previous two 6-month periods of that calendar year.

The security deposit (and interest thereof) can be used to pay for whatever has been established by the lease agreement. At the end of the tenancy, the landlord has forty-five (45) days to return the deposit and interest, or to notify the tenant of a withholding. If there is a withholding, the landlord must provide the tenant with an itemized list of deductions to be made, and has an additional thirty (30) days to return the balance of the deposit.

New Hampshire law prohibits security deposits from being more than one month's rent, or $100, whichever is greater. This rule does not apply if the rented property has fewer than six (6) units, and the property owner lives in the rented property, unless the Tenant is over 60 years of age.

The security deposit must be stored in a New Hampshire bank, savings and loan association, or credit union. If the security deposit is held by the Landlord for one (1) year, or longer, the Tenant is entitled to interest, starting from the date that the Landlord received the security deposit. A Tenant may request the interest accrued on a security deposit once every 3 years, 30 days before the expiration of that year's tenancy. The Landlord must comply with the request within 15 days after the expiration of that year's tenancy.

The Landlord must return the security deposit to the Tenant (with interest due, if any) within 30 days from the end of the tenancy. If there are any damages to the premises, other than reasonable wear and tear, the Landlord must provide the tenant with a written, itemized list of deductions made with the remaining balance of the security deposit, and interest.

Maine law prohibits security deposits from being more than two months' rent. This prohibition does not apply to rental properties of less than five (5) units if the property's owner resides in one of the units. The law also requires that the security deposit be held in a separate account from the Landlord's funds, although the deposit can be held in a single escrow account with security deposits from other tenants. The Landlord must provide the Tenant with the account number and name of the institution where the security deposit is being held.

The landlord may offer, but may not require, the option for the Tenant to purchase a surety bond instead of providing a security deposit.

The security deposit, or surety bond, may be used to cover damages caused by the tenant, but may not be used to pay for normal "wear and tear". If the Landlord uses any part of the security deposit, a written list of deductions must be provided to the Tenant, along with the remaining balance of the security deposit, within 30 days of the end of the tenancy.

Delaware limits security deposits on unfurnished premises to be no larger than one month's rent. Unfurnished premises have no limit on security deposits. The security deposit, once received by the landlord, must be kept in a federally-insured banking institution with an office in Delaware. The account must be used only for security deposits.

The security deposit can only be used by the landlord for the following reasons: To pay for damages to the premises beyond normal "wear and tear"; to cover unpaid rent; to reimburse the landlord for any expenses caused by early termination of the lease.

If the landlord is not entitled to all or any portion of the security deposit, the landlord shall remit the security deposit within 20 days of the expiration or termination of the rental agreement.

Within 20 days after the termination or expiration of any rental agreement, the landlord shall provide the tenant with an itemized list of damages to the premises and the estimated costs of repair for each and shall tender payment for the difference between the security deposit and such costs of repair of damage to the premises. Failure to do so shall constitute an acknowledgment by the landlord that no payment for damages is due.