Laws

Security deposits are an integral and expensive part of the renting process. They reduce fears around property destruction by giving landlord's a sum of money to deduct damages against. However, as competition and prices rise, so do security deposit amounts. Several states have acted to address this problem by placing maximums on the amount of money that can be collected. There are several elements to security deposits that are important: * Time it takes for the landlord to process. * How it...

Here's a list of states where itemized statements of deductions on security deposits are required by law....