security deposit regulations

Security deposit regulations govern how landlords can collect, hold, and return deposits when renting property. Typically, a tenant pays a security deposit to cover potential damages or unpaid rent. Regulations vary by location but often require landlords to keep the deposit in a separate account and return it within a certain timeframe after the lease ends, minus any justified deductions for damages or unpaid rent. Landlords must also provide an itemized list of any deductions made. These rules protect tenants from unfair practices and ensure transparency in the rental process.