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Security Deposit Rules for Landlords and Property Managers

One thing that all landlords and property managers can agree on is that property damage is frustrating and inevitable. That is why security deposits are collected, to protect the property owner or manager in the case where the tenant fails to perform as outlined in the signed lease. But what are the rules for how a security deposit can be used and how long does a landlord or property manager have to return a security deposit by law?

Move-in procedures for landlords and property managers

First off, be sure upon move-in that you have done a thorough walkthrough with your tenant using a Move In - Move Out Form and note the condition of the property in writing with your tenant and have them sign the document. This can help eliminate disputes after the tenant vacates regarding existing damage versus damage done by the tenant.

How much can I charge for a security deposit?

State laws vary but typically a landlord or property manager cannot charge more than two times the monthly rent for a security deposit.

Can I deposit the security deposit into my checking account?

By law, the security deposit collected by the landlord or property manager must be deposited into a specific account and not deposited into an account with the landlord’s personal or business monies. If a landlord or property manager has multiple units, multiple security deposits are permitted to be placed in the same account. Some states require the account must be an interest-bearing account and that interest must be given to the tenant at the time the deposit is refunded.

How long do I have to return the security deposit?

The Landlord or property manager must return the security deposit or give the tenants written notice of damages being claimed within the allotted time granted by each state. The only exception is if the tenant fails to have provided in writing a forwarding address for the return of their security deposit.

What can the security deposit be used for?

The Security deposit can be used to pay for unpaid rent or damages incurred by the tenant. The landlord can keep a security deposit for broken items at the property incurred by the tenant, holes in walls, cleanup of items to be thrown away, or leaving a property dirty as determined by the lease or move out agreement. It cannot be used to pay for normal wear and tear such a faded or chipped paint, worn carpet, or worn finish on hard floors.


Security Deposit Rules by State

Ala. Code § 35-9A-201 Exemption: Security deposit rules do not apply to a resident purchaser under a contract of sale (but do apply to a resident who has an option to buy) nor to the continuation of occupancy by the seller or a member of the seller’s family for a period of not more than 36 months after the sale of a dwelling unit or the property of which it is a part. Limit: One month’s rent, except for pet deposits, deposits to cover undoing tenant’s alterations, deposits to cover tenant activities that pose increased liability risks. Deadline for Landlord to Itemize and Return Deposit: 35 days after termination of tenancy and delivery of possession.

Alaska Stat. § 34.03.070 Limit: Two months’ rent, unless rent exceeds $2,000 per month. Disclosure or Requirement: Orally or in writing, the landlord must disclose the conditions under which the landlord may withhold all or part of the deposit. Separate Account: Required. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 14 days if the tenant gives proper notice to terminate tenancy; 30 days if the tenant does not give proper notice.

Ariz. Rev. Stat. Ann. § 33-1321 Exemption: Excludes, among others, occupancy under a contract of sale of a dwelling unit or the property of which it is a part, if the occupant is the purchaser or a person who succeeds to his interest; occupancy by an employee of a landlord as a manager or custodian whose right to occupancy is conditional upon employment in and about the premises. Limit: One and one-half months’ rent. Disclosure or Requirement: If landlord collects a nonrefundable fee, its purpose must be stated in writing. All fees not designated as nonrefundable are refundable. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 14 days; tenant has the right to be present at final inspection.

Ark. Code Ann. §§ 18-16-303 to 18-16-305 Exemption: Excludes, among others, occupancy under a contract of sale of a dwelling unit or the property of which it is a part, if the occupant is the purchaser or a person who succeeds to his or her interest; occupancy by an employee of a landlord whose right to occupancy is conditional upon employment in and about the premises; and landlord who owns five or fewer rental units, unless these units are managed by a third party for a fee. Limit: Two months’ rent. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 30 days.

Cal. Civ. Code §§ 1950.5, 1940.5(g) Exemption: Excludes, among others, occupancy under a contract of sale of a dwelling unit or the property of which the unit is a part, if the occupant is the purchaser or a person who succeeds to his interest; and occupancy by a personal care assistant or other person who is employed by a person with a disability to assist and support such disabled person with daily living activities or housekeeping chores and is provided dwelling space in the personal residence of such disabled person as a benefit or condition of employment. Limit: Two months’ rent (unfurnished); 3 months’ rent (furnished). Add extra one-half month’s rent for waterbed.

Colo. Rev. Stat. §§ 38-12-102 to 38-12-104 Limit: No statutory limit. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: One month, unless lease agreement specifies longer period of time (which may be no more than 60 days); 72 hours (not counting weekends or holidays) if a hazardous condition involving gas equipment requires tenant to vacate.

Conn. Gen. Stat. Ann. § 47a-21 Limit: Two months’ rent (tenant under 62 years of age); one month’s rent (tenant 62 years of age or older). Separate Account: Required. Interest Payment: Interest payments must be made annually and at termination of tenancy. The interest rate must be equal to the average rate paid on savings deposits by insured commercial banks, as published by the Federal Reserve Board Bulletin, but not less than 1.5%. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 30 days, or within 15 days of receiving tenant’s forwarding address, whichever is later.

Del. Code Ann. tit. 25, § 5514 Limit: One month’s rent on leases for one year or more; no limit for month-to-month rental agreements (may require additional pet deposit of up to one month’s rent). No limit for rental of furnished units. Separate Account: Required. Orally or in writing, the landlord must disclose to the tenant the location of the security deposit account. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 20 days.

D.C. Code Ann. § 42-3502.17; D.C. Mun. Regs. tit. 14, §§ 308 to 310 Exemption: Tenants in rent-stabilized units as of July 17, 1985, cannot be asked to pay a deposit. Limit: One month’s rent. Disclosure or Requirement: In the lease, rental agreement, or receipt, landlord must state the terms and conditions under which the security deposit was collected (to secure tenant’s obligations under the lease or rental agreement). Separate Account: Required. Interest Payment: Required. Interest payments at the prevailing statement savings rate must be made at termination of tenancy. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 45 days.

Fla. Stat. Ann. §§ 83.49, 83.43 (12) Limit: No statutory limit. Disclosure or Requirement: Within 30 days of receiving the security deposit, the landlord must disclose in writing whether it will be held in an interest- or non-interest-bearing account; the name of the account depository; and the rate and time of interest payments. Landlord who collects a deposit must include a copy of Florida Statutes § 83.49(3) in the lease. Separate Account: Required. Landlord may post a security bond securing all tenants’ deposits instead. Interest Payment: Interest payments, if any (account need not be interest-bearing) must be made annually and at termination of tenancy. However, no interest is due a tenant who wrongfully terminates the tenancy before the end of the rental term. Advance notice of deduction: Required. Deadline for Landlord to Itemize and Return Deposit: 15 to 60 days depending on whether tenant disputes deductions. Georgia Ga. Code Ann. §§ 44-7-30 to 44-7-37 Exemption: Landlord who owns ten or fewer rental units, unless these units are managed by an outside party, need not supply written list of preexisting damage, nor place deposit in an escrow account. Rules for returning the deposit still apply. Limit: No statutory limit. Disclosure or Requirement: Landlord must give tenant a written list of preexisting damage to the rental before collecting a security deposit. Separate Account: Required. Landlord must place the deposit in an escrow account in a state or federally regulated depository and must inform the tenant of the location of this account. Landlord may post a security bond securing all tenants’ deposits instead. Advance notice of deduction: Required. Deadline for Landlord to Itemize and Return Deposit: One month.

Haw. Rev. Stat. § 521-44 Limit: One month’s rent. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 14 days.

Idaho Code § 6-321 Limit: No statutory limit. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 21 days or up to 30 days if landlord and tenant agree.

765 Ill. Comp. Stat. 710/1 & 715/3 Limit: No statutory limit. Interest Payment: Landlords who rent 25 or more units in either a single building or a complex located on contiguous properties must pay interest on deposits held for more than six months. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: Landlords who rent 25 or more units in either a single building or a complex located on contiguous properties must pay interest on deposits held for more than six months. The interest rate is the rate paid for minimum deposit savings accounts by the largest commercial bank in the state, as of December 21 of the calendar year immediately preceding the start of tenancy.

Ind. Code Ann. §§ 32-31-3-9 to 32-31-3-19 Limit: No statutory limit. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 45 days.

Iowa Code Ann. § 562A.12 Limit: Two months’ rent. Separate Account: Required. Interest Payment: Interest payment, if any (account need not be interest-bearing), must be made at termination of tenancy. Interest earned during first five years of tenancy belongs to landlord. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 30 days.

Kan. Stat. Ann. §§ 58-2550, 58-2548 Limit: One month’s rent (unfurnished); one and one-half months’ rent (furnished); for pets, add extra one-half month’s rent. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 30 days.

Ky. Rev. Stat. Ann. § 383.580 Limit: No statutory limit. Disclosure or Requirement: Orally or in writing, landlord must disclose where the security deposit is being held and the account number. Separate Account: Required. Advance notice of deduction: Required. Deadline for Landlord to Itemize and Return Deposit: 30 to 60 days depending on whether tenant disputes deductions.

La. Rev. Stat. Ann. § 9:3251 Limit: No statutory limit. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: One month.

Me. Rev. Stat. Ann. tit. 14, §§ 6031 to 6038 Limit: Two months’ rent. Disclosure or Requirement: Upon request by the tenant, landlord must disclose orally or in writing the account number and the name of the institution where the security deposit is being held. Separate Account: Required. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 30 days (if written rental agreement) or 21 days (if tenancy at will).

Md. Code Ann. [Real Prop.] § 8-203, § 8-203.1 Limit: Two months’ rent. Disclosure or Requirement: Landlord must provide a receipt that describes tenant’s rights to move-in and move-out inspections (and to be present at each), and right to receive itemization of deposit deductions and balance, if any; and penalties for landlord’s failure to comply. Landlord may include this information in the lease. Separate Account: Required. Landlord may hold all tenants’ deposits in secured certificates of deposit, or in securities issued by the federal government or the State of Maryland. Interest Payment: Within 45 days of termination of tenancy, interest must be paid (at annual rate of 3%, not compounded) only on security deposits of $50 or more. Deposit must be held in a Maryland banking institution. Advance notice of deduction: Required. Deadline for Landlord to Itemize and Return Deposit: 45 days.

Mass. Gen. Laws Ann. ch. 186, § 15B Limit: One month’s rent. Disclosure or Requirement: At the time of receiving a security deposit, landlord must furnish a receipt indicating the amount of the deposit; the name of the person receiving it and, if received by a property manager, the name of the lessor for whom the security deposit is received; the date on which it is received; and a description of the premises leased or rented. The receipt must be signed by the person receiving the security deposit. Separate Account: Required. Within 30 days of receiving security deposit, landlord must disclose the name and location of the bank in which the security deposit has been deposited, and the amount and account number of the deposit. Interest Payment: Landlord must pay tenant 5% interest per year or the amount received from the bank (which must be in Massachusetts) that holds the deposit. Interest should be paid yearly and within 30 days of termination date. Interest will not accrue for the last month for which rent was paid in advance. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 30 days.

Mich. Comp. Laws §§ 554.602 to 554.616 Limit: One and one-half months’ rent. Disclosure or Requirement: Within 14 days of tenants taking possession of the rental, landlord must furnish in writing the landlord’s name and address for receipt of communications, the name and address of the financial institution or surety where the deposit will be held, and the tenant’s obligation to provide in writing a forwarding mailing address to the landlord within 4 days after termination of occupancy. The notice shall include the following statement in 12-point boldface type that is at least 4 points larger than the body of the notice or lease agreement: “You must notify your landlord in writing within 4 days after you move of a forwarding address where you can be reached and where you will receive mail; otherwise your landlord shall be relieved of sending you an itemized list of damages and the penalties adherent to that failure.” Separate Account: Required. Landlord must place deposits in a regulated financial institution and may use the deposits as long as the landlord deposits with the secretary of state a cash or surety bond. Advance notice of deduction: Required. Tenants must dispute the landlord’s stated deductions within 7 days of receiving the itemized list and balance, if any, or give up any right to dispute them. Deadline for Landlord to Itemize and Return Deposit: 30 days.

Minn. Stat. Ann. §§ 504B.175, 504B.178 Limit: No statutory limit. Disclosure or Requirement: Before collecting rent or a security deposit, landlord must provide a copy of all outstanding inspection orders for which a citation has been issued, pertaining to a rental unit or common area, specifying code violations that threaten the health or safety of the tenant, and all outstanding condemnation orders and declarations that the premises are unfit for human habitation. Citations for violations that do not involve threats to tenant health or safety must be summarized and posted in an obvious place. With some exceptions, landlord who has received notice of a contract for deed cancellation or notice of a mortgage foreclosure sale must so disclose before entering a lease, accepting rent, or accepting a security deposit; and must furnish the date on which the contract cancellation period or the mortgagor’s redemption period ends. Interest Payment: Landlord must pay 1% simple, non-compounded interest per year. (Deposits collected before 8/1/03 earn interest at 3%, up to 8/1/03, then begin earning at 1%.) Any interest amount less than $1 is excluded. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: Three weeks after tenant leaves and landlord receives forwarding address; five days if tenant must leave due to building condemnation.

Miss. Code Ann. § 89-8-21 Limit: No statutory limit. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 45 days.

Mo. Ann. Stat. § 535.300 Limit: Two months’ rent. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 30 days.

Mont. Code Ann. §§ 70-25-101 to 70-25-206 Limit: No statutory limit. Advance notice of deduction: Required. Tenant is entitled to advance notice of cleaning charges, but only if such cleaning is required as a result of tenant’s negligence and is not part of the landlord’s cyclical cleaning program. Advance notice of deduction: Required. Deadline for Landlord to Itemize and Return Deposit: 30 days; 10 days if no deductions.

Neb. Rev. Stat. § 76-1416 Limit: One month’s rent (no pets); one and onequarter months’ rent (pets). Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 14 days.

Nev. Rev. Stat. Ann. §§ 118A.240 to 118A.250 Limit: Three months’ rent; if both landlord and tenant agree, tenant may use a surety bond for all or part of the deposit. Disclosure or Requirement: Lease or rental agreement must explain the conditions under which the landlord will refund the deposit. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 30 days.

N.H. Rev. Stat. Ann. §§ 540-A:5 to 540-A:8; 540-B:10 Exemption: Entire security deposit law does not apply to landlord who leases a single-family residence and owns no other rental property, or landlord who leases rental units in an owner-occupied building of five units or fewer (exemption does not apply to any individual unit in owner-occupied building that is occupied by a person 60 years of age or older). Limit: One month’s rent or $100, whichever is greater; when landlord and tenant share facilities, no statutory limit. Disclosure or Requirement: Unless tenant has paid the deposit by personal or bank check, or by a check issued by a government agency, landlord must provide a receipt stating the amount of the deposit and the institution where it will be held. Regardless of whether a receipt is required, landlord must inform tenant that if tenant finds any conditions in the rental in need of repair, tenant may note them on the receipt or other written instrument, and return either within five days. Separate Account: Required. Upon request, landlord must disclose the account number, the amount on deposit, and the interest rate. Landlord may post a bond covering all deposits instead of putting deposits in a separate account. Interest Payment: Landlord who holds a security deposit for a year or longer must pay interest at a rate equal to the rate paid on regular savings accounts in the New Hampshire bank, savings & loan, or credit union where it’s deposited. If a landlord mingles security deposits in a single account, the landlord must pay the actual interest earned proportionately to each tenant. A tenant may request the interest accrued every three years, 30 days before that year’s tenancy expires. The landlord must comply with the request within 15 days of the expiration of that year’s tenancy. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 30 days; for shared facilities, if the deposit is more than 30 days’ rent, landlord must provide written agreement acknowledging receipt and specifying when deposit will be returned—if no written agreement, 20 days after tenant vacates.

N.J. Stat. Ann. §§ 46:8-19, 44:8-21, 44:8-26 Exemption: Security deposit law does not apply to owner-occupied buildings with three or fewer units unless tenant gives 30 days’ written notice to the landlord of the tenant’s wish to invoke the law. Limit: One and one-half months’ rent. Any additional security deposit, collected annually, may be no greater than 10% of the current security deposit. Separate Account: Required. Within 30 days of receiving the deposit and every time the landlord pays the tenant interest, landlord must disclose the name and address of the banking organization where the deposit is being held, the type of account, current rate of interest, and the amount of the deposit. Interest Payment: Landlord with 10 or more units must invest deposits as specified by statute or place deposit in an insured money market fund account, or in another account that pays quarterly interest at a rate comparable to the money market fund. Landlords with fewer than 10 units may place deposit in an interest-bearing account in any New Jersey financial institution insured by the FDIC. All landlords may pay tenants interest earned on account annually or credit toward payment of rent due. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 30 days; five days in case of fire, flood, condemnation, or evacuation.

N.M. Stat. Ann. § 47-8-18 Limit: One month’s rent (for rental agreement of less than one year); no limit for leases of one year or more. Interest Payment: Landlord who collects a deposit larger than than one month’s rent on a year’s lease must pay interest, on an annual basis, equal to the passbook interest. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 30 days.

N.Y. Gen. Oblig. Law §§ 7-103 to 7-108 Limit: No statutory limit for nonregulated units. Disclosure or Requirement: If deposit is placed in a bank, landlord must disclose the name and address of the banking organization where the deposit is being held, and the amount of such deposit. Separate Account: Statute requires that deposits not be commingled with landlord’s personal assets, but does not explicitly require placement in a banking institution (however, deposits collected in buildings of six or more units must be placed in New York bank accounts). Interest Payment: Landlord who rents out nonregulated units in buildings with five or fewer units need not pay interest. Interest must be paid at the prevailing rate on deposits received from tenants who rent units in buildings containing six or more units. The landlord in every rental situation may retain an administrative fee of 1% per year on the sum deposited. Interest can be subtracted from the rent, paid at the end of the year, or paid at the end of the tenancy according to the tenant’s choice. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: “Within a reasonable time.”

N.D. Cent. Code § 47-16-07.1 Limit: One month’s rent (if tenant has a pet, not to exceed the greater of $2,500 or amount equal to two months’ rent). Separate Account: Required. Interest Payment: Landlord must pay interest if the period of occupancy is at least nine months. Money must be held in a federally insured interest-bearing savings or checking account for benefit of the tenant. Interest must be paid upon termination of the lease. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 30 days.

Ohio Rev. Code Ann. § 5321.16 Limit: No statutory limit. Interest Payment: Any deposit in excess of $50 or one month’s rent, whichever is greater, must bear interest on the excess at the rate of 5% per annum if the tenant stays for six months or more. Interest must be paid annually and upon termination of tenancy. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 30 days.

Okla. Stat. Ann. tit. 41, § 115 Limit: No statutory limit. Separate Account: Required. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 30 days.

Or. Rev. Stat. § 90.300 Limit: No statutory limit. Landlord may not impose or increase deposit within first year unless parties agree to modify the rental agreement to allow for a pet or other cause, and the imposition or increase relates to that modification. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 31 days.

68 Pa. Cons. Stat. Ann. §§ 250.511a to 250.512 Limit: Two months’ rent for first year of renting; one month’s rent during second and subsequent years of renting. Separate Account: Required. Instead of placing deposits in a separate account, landlord may purchase a bond issued by a bonding company authorized to do business in the state. Interest Payment: Tenant who occupies rental unit for two or more years is entitled to interest beginning with the 25th month of occupancy. Landlord must pay tenant interest (minus 1% fee) at the end of the third and subsequent years of the tenancy. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 30 days.

R.I. Gen. Laws § 34-18-19 Limit: One month’s rent. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 20 days.

S.C. Code Ann. § 27-40-410 Limit: No statutory limit. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 30 days.

S.D. Codified Laws Ann. § 43.32-6.1, § 43-32-24 Limit: One month’s rent (higher deposit may be charged if special conditions pose a danger to maintenance of the premises). Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: Two weeks to return entire deposit or a portion, and supply reasons for withholding; 45 days for a written, itemized accounting, if tenant requests it.

Tenn. Code Ann. § 66-28-301 Exemption: Does not apply in counties having a population of less than 68,000, according to the 1970 federal census or any subsequent federal census. Limit: No statutory limit. Separate Account: Required. Orally or in writing, landlord must disclose the location of the separate account used by landlord for the deposit. Advance notice of deduction: Required. Deadline for Landlord to Itemize and Return Deposit: 30 days

Tex. Prop. Code Ann. §§ 92.101 to 92.109 Limit: No statutory limit. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 30 days.

Utah Code Ann. §§ 57-17-1 to 57-17-5 Limit: No statutory limit. Disclosure or Requirement: For written leases or rental agreements only, if part of the deposit is nonrefundable, landlord must disclose this feature. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 30 days, or within 15 days of receiving tenant’s forwarding address, whichever is later, but if there is damage to the premises, 30 days.

Vt. Stat. Ann. tit. 9, § 4461 Limit: No statutory limit. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 14 days; 60 days if the rental is seasonal and not intended as the tenant’s primary residence.

Va. Code Ann. § 55-248.15:1 Exemption: Single-family residences are exempt where the owner(s) are natural persons or their estates who own in their own name no more than ten single-family residences subject to a rental agreement. Exemption applies to the entire Virginia Residential Landlord and Tenant Act. Limit: Two months’ rent. Interest Payment: Landlord must accrue interest on all money held as security at annual rate equal to 4% below the Federal Reserve Board discount rate as of January 1 of each year. The deposit must begin earning interest as of the date the rental agreement is signed, but no interest is payable unless landlord holds the deposit for over 13 months after the date the rental agreement was signed and there has been continuous occupancy of the same unit. Interest must be paid upon termination of the tenancy. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 45 days; tenant has right to be present at final inspection.

Wash. Rev. Code Ann. §§ 59.18.260 to 59.18.285 Exemption: Security deposit rules do not apply to a lease of a single-family dwelling for a year or more, or to any lease of a single-family dwelling containing a bona fide option to purchase by the tenant, provided that an attorney for the tenant has approved on the face of the agreement any lease so exempted. Rules also do not apply to occupancy by an employee of a landlord whose right to occupy is conditioned upon employment in or about the premises; or the lease of single-family rental in connection with a lease of land to be used primarily for agricultural purposes; or rental agreements for seasonal agricultural employees. Limit: No statutory limit. Disclosure or Requirement: In the lease, landlord must disclose the circumstances under which all or part of the deposit may be withheld, and must provide a receipt with the name and location of the banking institution where the deposit is being held. No deposit may be collected unless the rental agreement is in writing and a written checklist or statement specifically describing the condition and cleanliness of or existing damages to the premises and furnishings is provided to the tenant at the start of the tenancy. Separate Account: Required. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 14 days.

W.Va. Code § 37-6A-1 et seq. Deadline for Landlord to Itemize and Return Deposit: 60 days from the date the tenancy has terminated, or within 45 days of the occupancy of a subsequent tenant, whichever is shorter. If the damage exceeds the amount of the security deposit and the landlord has to hire a contractor to fix it, the notice period is extended 15 days.

Wis. Admin. Code ATCP 134.06, Wis. Stat. § 704.28 Exemption: Security deposit rules do not apply to a dwelling unit occupied, under a contract of sale, by the purchaser of the dwelling unit or the purchaser’s successor in interest; or to a dwelling unit that the landlord provides free to any person, or that the landlord provides as consideration to a person whom the landlord currently employs to operate or maintain the premises. Limit: Before accepting the deposit, landlord must inform tenant of tenant’s inspection rights, disclose all habitability defects and show tenant any outstanding building and housing code violations, inform tenant of the means by which shared utilities will be billed, and inform tenant if utilities are not paid for by landlord. Disclosure or Requirement: Before accepting the deposit, landlord must inform tenant of tenant’s inspection rights. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: For unpaid rent, 30 days, or within 15 days of receiving tenant’s forwarding address, whichever is later; additional 30 days for deductions due to damage.

Wyo. Stat. §§ 1-21-1207, 1-21-1208 Limit: No statutory limit. Disclosure or Requirement: Lease or rental agreement must state whether any portion of a deposit is non-refundable, and landlord must give tenant written notice of this fact when collecting the deposit. Advance notice of deduction: Not required. Deadline for Landlord to Itemize and Return Deposit: 30 days, or within 15 days of receiving tenant’s forwarding address, whichever is later; 60 days if there is damage.