Security Deposit Receipt

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A Security Deposit Receipt gets sent by a landlord to prove payment of a tenant’s security deposit. It also documents where the deposit is held for the duration of the lease.

Items To Include in a Security Deposit Receipt

  1. Date of receipt
  2. Tenant’s name and current address
  3. Amount of security deposit, and date it was made
  4. The name and location of the institution holding the security deposit, plus account number if required
  5. Any relevant lease terms related to the holding or distribution of the security deposit
  6. Landlord’s name and signature

When filing a copy of the security deposit receipt, it’s also important to note the means of delivery (ideally hand-delivered or via certified mail) along with the method of payment (cash, credit card, check, etc.).

Sending a Security Deposit Receipt To a Tenant

While many states do not have a specific requirement for when this receipt must be sent, it should be provided to the tenant as soon as possible after they provide their security deposit. Where there is a law about sending receipts, the maximum time allowed is usually 30 days.

It’s important to use a method that provides a signed confirmation of delivery. Certified mail is customary, especially with the restricted delivery option since this means the tenant has to sign for the receipt personally. Landlords will also sometimes hand deliver the receipt and get signature confirmation on a copy.

Security Deposit Limits

The amount retained in a security deposit (and reflected on the receipt) must be within the maximum allowed by state law. These are the limits for security deposit amounts, state by state:

State Maximum Security Deposit
Alabama 1 month’s rent.
Alaska 2 months’ rent.
Arizona 2 months’ rent.
Arkansas 2 months’ rent (only required for rentals with landlords managing 6 units or more).
California 2 months’ rent for unfurnished units, 3 months’ for furnished units.
Colorado No legal maximum.
Connecticut 2 months’ rent (1 month, for for tenants 62 years of age or older).
Delaware 1 month’s rent (only for leases with a term of 1 year or more). For month-to-month tenancies, no limit for the first year and one month’s rent thereafter.
Florida No legal maximum.
Georgia No legal maximum.
Hawaii 1 month’s rent. Landlords may require an additional month’s rent as a security deposit for tenants who keep a pet.
Idaho No legal maximum.
Illinois No legal maximum.
Indiana No legal maximum.
Iowa Two months’ rent.
Kansas 1 and 1/2 months’ rent for furnished units. 1 month’s rent for unfurnished units.
Kentucky No legal maximum.
Louisiana No legal maximum.
Maine 2 month’s rent.
Maryland 2 month’s rent.
Massachusetts 1 month’s rent.
Michigan 1 and 1/2 months’ rent.
Minnesota No legal maximum.
Mississippi No legal maximum.
Missouri Two months’ rent.
Montana No legal maximum.
Nebraska 1 month’s rent (no pets); 1 and 1/4 months’ rent (pets).
Nevada 3 months’ rent.
New Hampshire 1 month’s rent or $100, whichever is greater.
New Jersey 1 and 1/2 months’ rent.
New Mexico 1 month’s rent for leases with a term of less than 1 year. No legal maximum for longer leases.
New York 1 month’s rent for units NOT subject to the City Rent and Rehabilitation Law or the Emergency Housing Rent Control Law.
North Carolina 1 and 1/2 months’ rent for month-to-month rental agreements. 2 months’ rent for leases longer than 2 months. Additional, “reasonable” non-refundable pet deposit allowed.
North Dakota 1 month’s rent.
Ohio No legal maximum.
Oklahoma No legal maximum.
Oregon No legal maximum.
Pennsylvania 2 months’ rent; 1 month’s rent for leases that are renewed beyond the first year.
Rhode Island 1 month’s rent.
South Carolina No statutory limit
South Dakota 1 month’s rent.
Tennessee No legal maximum.
Texas No legal maximum.
Utah No legal maximum.
Vermont No legal maximum.
Virginia 2 months’ rent.
Washington No legal maximum.
Washington D.C. One month’s rent.
West Virginia No legal maximum.
Wisconsin No legal maximum.
Wyoming No legal maximum.

Returning a Security Deposit

At the end of the lease, the landlord must return the security deposit to the tenant (in some states with accrued interest) as long as there are no outstanding damages or lease violations that allow deductions or withholding.

If there are deductions, the landlord should note them in a Security Deposit Return Letter. If the landlord is withholding the entire security deposit, this should also be noted in an appropriate letter.

State Time To Return Security Deposit
Alabama 60 days.
Alaska 14 days with proper notice. 30 days without proper notice (or if the landlord is deducting any amount from the security deposit).
Arizona 14 days.
Arkansas 60 days.
California 21 days.
Colorado 1 month, unless a longer period (up to 60 days) is provided in the lease agreement.
Connecticut 21 days, or within 15 days of receiving the tenant’s forwarding address (whichever is later). [1]
Delaware 20 days.
Florida 15-60 days (depending whether the tenant disputes any deductions).
Georgia 30 days.
Hawaii 14 days.
Idaho 21 days.
Illinois 7 days.
Indiana 30-45 days (depending whether the tenant disputes any deductions, or whether the landlord provided any statements or receipts) .
Iowa 30 days.
Kansas 30 days.
Kentucky 30-60 days (depending whether the tenant disputes any deductions).
Louisiana 1 month.
Maine 30 days for a written agreement. 21 days for a tenancy at will.
Maryland 45 days.
Massachusetts 30 days.
Michigan 30 days.
Minnesota 21 days.
Mississippi 45 days.
Missouri 30 days.
Montana 10 days (30 days if the landlord makes deductions) .
Nebraska 14 days.
Nevada 30 days.
New Hampshire 30 days.
New Jersey 30 days.
New Mexico 30 days.
New York 14 days.
North Carolina 30 days.
North Dakota 30 days.
Ohio 30 days.
Oklahoma 45 days.
Oregon 31 days.
Pennsylvania 30 days.
Rhode Island 20 days.
South Carolina 30 days.
South Dakota 14 days (45 days, if the tenant requests an itemized accounting).
Tennessee No statute.
Texas 30 days.
Utah 30 days.
Vermont 14 days.
Virginia 45 days.
Washington 21 days.
Washington D.C. 45 days.
West Virginia 60 days, or within 45 days of a new tenant moving in (whichever is shorter). Additional 15-day extension if property damage exceeds the amount of the security deposit and the landlord must hire a contractor to fix it.
Wisconsin 21 days.
Wyoming 30 days (60 days, if there are deductions due to damage).

Sources

(2) Upon termination of a tenancy, any tenant may notify the landlord in writing of such tenant’s forwarding address. Not later than twenty-one days after termination of a tenancy or fifteen days after receiving written notification of such tenant’s forwarding address, whichever is later, each landlord other than a rent receiver shall deliver to the tenant or former tenant at such forwarding address either (A) the full amount of the security deposit paid by such tenant plus accrued interest, or (B) the balance of such security deposit and accrued interest after deduction for any damages suffered by such landlord by reason of such tenant’s failure to comply with such tenant’s obligations, together with a written statement itemizing the nature and amount of such damages. Any landlord who violates any provision of this subsection shall be liable for twice the amount of any security deposit paid by such tenant, except that, if the only violation is the failure to deliver the accrued interest, such landlord shall be liable for ten dollars or twice the amount of the accrued interest, whichever is greater.

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