Security deposit — what it means and how it varies by state

A security deposit is a refundable amount a tenant pays at lease signing to cover unpaid rent or damage at move-out. Almost every state caps the maximum amount, sets a return deadline, and requires an itemized statement of any deductions.

§ I — What "security deposit" means

A security deposit is money a tenant pays the landlord at the start of a lease that the landlord holds during the tenancy. At move-out, the landlord must return it (minus lawful deductions for unpaid rent or property damage beyond ordinary wear) within a state-specific deadline. The deposit is the tenant's property — the landlord is a custodian — and most states require it to be held in a separate account.

§ II — How security deposit varies by state

• Massachusetts

  Massachusetts caps deposits at one month's rent and requires itemized return within 30 days; deposits over $100 must be in a separate interest-bearing account. M.G.L. c. 186, § 15B.

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• Florida

  Florida sets a 15-day return deadline (no deductions) or 30 days (with deductions) and requires written notice of any claim. F.S. § 83.49.

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• California

  California caps deposits at one month's rent (post-AB 12, July 2024); the landlord must return any unused balance plus an itemized statement within 21 days of move-out.

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• New York

  New York caps deposits at one month's rent and requires return within 14 days of move-out (HSTPA 2019). RPL § 7-108.

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• Texas

  See the Texas lease agreement page for Texas-specific security deposit rules.

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• North Carolina

  See the North Carolina lease agreement page for North Carolina-specific security deposit rules.

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• Georgia

  See the Georgia lease agreement page for Georgia-specific security deposit rules.

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• Pennsylvania

  Pennsylvania caps deposits at two months' rent for the first year (one month thereafter); deposits held over two years must accrue interest. 68 P.S. § 250.511a.

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• Illinois

  See the Illinois lease agreement page for Illinois-specific security deposit rules.

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• Ohio

  See the Ohio lease agreement page for Ohio-specific security deposit rules.

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• Michigan

  See the Michigan lease agreement page for Michigan-specific security deposit rules.

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• Washington

  Washington requires deposits to be held in a trust account and returned within 30 days with an itemized statement. RCW 59.18.270.

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• Arizona

  See the Arizona lease agreement page for Arizona-specific security deposit rules.

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• Virginia

  See the Virginia lease agreement page for Virginia-specific security deposit rules.

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• New Jersey

  See the New Jersey lease agreement page for New Jersey-specific security deposit rules.

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• Colorado

  See the Colorado lease agreement page for Colorado-specific security deposit rules.

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• Tennessee

  See the Tennessee lease agreement page for Tennessee-specific security deposit rules.

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• Minnesota

  See the Minnesota lease agreement page for Minnesota-specific security deposit rules.

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• Maryland

  Maryland caps deposits at one month's rent for leases signed on or after October 1, 2024 (Md. Code, Real Prop. § 8-203(b)) and requires return within 45 days with an itemized statement. Deposits ≥ $50 held ≥ 6 months must accrue interest at the greater of 1.5%/yr or the 1-year U.S. Treasury yield. § 8-203(e).

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