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Rental Deposit Law

Rental deposit law often varies by state and/or city. Some states set legal limits on how much a landlord can charge for a deposit, while other states set no limits on maximum deposits. Similarly, the amount of time a landlord has to return a rental deposit also varies; in some locations a landlord may have thirty days to refund a deposit, though the time limit may be shorter or longer in other locations. In most cases a landlord must present a tenant with an itemized list of any deductions made to the rental deposit. Repair receipts or estimates may be required in order for deposit deductions to be legal. If a landlord violates the laws governing rental deposits in his area, for example by failing to return the deposit in the alloted amount of time or by making illegal deductions, a tenant may be able to sue the landlord for damages. Up to three times the amount may be collected in damages in some cases.

Fast Facts

  • In Indiana, a landlord has 45 days to return a rental deposit.
  • In South Dakota, a landlord has two weeks to return a rental deposit.

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  • Injuries on Rental Property

    Any landlord that owns property and leases or rents it out to tenants should have liability insurance on the p...
    • Site: lawfirms.com
  • Security Deposit Demand Letter and Settlements

    In most cases, when a tenant rents property or an apartment from a landlord, that landlord will require a secu...
    • Site: landlordtenantlawfirms.com
  • Leases and Rental Agreements

    Renting your property without a written rental agreement or lease is a bad idea and could create problems down...
    • Site: lawfirms.com
  • Security Deposit Laws

    A security deposit is a deposit given to a landlord by a tenant to cover damage to the premises caused by the ...
    • Site: realestatelawyers.com
    • 6 of 9 user(s) found this useful
  • Ending a Rental Agreement Early

    A rental agreement or lease is a binding contract.  This means that once you sign it, you are bound by its ter...
    • Site: landlordtenantlawfirms.com
    • 2 of 3 user(s) found this useful

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