Security Deposit Receipt Template
A security deposit receipt is a written record of the payment of a security deposit from a prospective tenant to a landlord. A security deposit is a one-time fee that a landlord collects from a new tenant before moving into a rental property. This deposit is separate from any requirements to pay the first and last months’ rent before move-in. Landlords can use security deposits to cover the costs of property damage, missing amenities, and back rent.
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Are Security Deposit Receipts Required?
Landlords are legally required to provide security deposit receipts in Washington, D.C., and ten (10) states: Florida, Kentucky, Maryland, Massachusetts, Michigan, New Hampshire, New York, North Carolina, Oregon, and Washington. The receipts usually have to include the identity of the bank where the deposit is held and the annual interest rate applied to the deposit fund. Some states even require annual reporting and paying of deposit interest.
Table: Security Deposit Receipt Requirements (By State)
| State | Requirements | Statute |
| Florida | Provide to the tenant within 30 days of collecting the deposit | § 83.49(2) |
| Kentucky | Receipt must include an itemized list of damage existing before the tenant’s occupancy | § 383.50(2) |
| Maryland | Landlord is liable to the tenant for $25 if they don’t provide a receipt | § 8-203(c); § 8-203.1 |
| Massachusetts | Provide to the tenant within ten (10) days of collecting the deposit and include an itemized list of prior existing damage | § 15B(2)(c) |
| Michigan | Landlord required to send formal request of security deposit at least fourteen (14) days before a new tenant’s occupancy begins | § 554.603 |
| New Hampshire | Required except when a tenant pays the security deposit by personal check, bank check, or a check issued by a government or nonprofit agency | RSA 540-A:6(I) |
| New York | Receipt must include an itemized list of prior existing damage | § 7-108(1-a)(c) |
| North Carolina | Landlord must notify new tenant where their security deposit is stored within thirty (30) days of receiving the deposit | § 42-50 |
| Oregon | Landlord required to provide a receipt | ORS 90.300(2) |
| Washington | Landlord is required to provide a receipt | § 59.18.270 |
| Washington, D.C. | Landlord must provide a security deposit receipt unless it is paid by personal check. It has to include the amount received, the date received, and the purpose of the payment. | § 14-306 |
Security Deposit Maximums
Many states cap security deposits at the equivalent of 1-2 months’ rent, but some don’t have maximum deposits. There are several factors that landlords can consider when deciding what to charge for a security deposit:
- A property’s monthly rent;
- Included amenities (quality, quantity, type);
- Results of the tenant’s rental application and background check;
- State laws; and
- What neighboring landlords charge for similar properties.
Table: Security Deposit Maximums (By State)
| State | Maximum Amount | Statute |
| Alabama | 1 month’s rent | § 35-9A-201(a) |
| Alaska | 2 months’ rent (unless rent exceeds $2,000 per month) | § 34.03.070(a) |
| Arizona | 1.5 months’ rent | § 33-1321(A) |
| Arkansas | 2 months’ rent | § 18-16-304 |
| California | 2 months’ rent (unfurnished); 3 months’ rent (furnished) | § 1950.5(c)(1) |
| Colorado | No limit | No statute |
| Connecticut | 1 month’s rent | § 47a-22a |
| Delaware | 1 month’s rent | § 5514(a) |
| Florida | No limit | No statute |
| Georgia | No limit | No statute |
| Hawaii | 1 month’s rent | § 521-44(b) |
| Idaho | No limit | No statute |
| Illinois | No limit | No statute |
| Indiana | No limit | No statute |
| Iowa | 2 months’ rent | § 562A.12(1) |
| Kansas | 1 month’s rent (unfurnished); 1.5 months’ rent (furnished) | § 58-2550(a) |
| Kentucky | No limit | No statute |
| Louisiana | No limit | No statute |
| Maine | 2 months’ rent | § 6032 |
| Maryland | 2 months’ rent | § 8-203(b)(1) |
| Massachusetts | 1 month’s rent | § 15B(1)(b)(iii) |
| Michigan | 1.5 months’ rent | § 554.602 |
| Minnesota | No limit | No statute |
| Mississippi | No limit | No statute |
| Missouri | 2 months’ rent | § 535.300(1) |
| Montana | No limit | No statute |
| Nebraska | 1 month’s rent | § 76-1416(1) |
| Nevada | 3 months’ rent | NRS 118A.242(1) |
| New Hampshire | 1 month’s rent or $100 (whichever is greater) | RSA 540-A:6(I)(a) |
| New Jersey | 1.5 months’ rent | § 46:8-21.2 |
| New Mexico | 1 month’s rent (only leases one year and under) | § 47-8-18(A) |
| New York | 1 month’s rent | Emergency Tenant Protection Act 576/74(f) |
| North Carolina | 1.5 months’ rent | § 42-51(b) |
| North Dakota | 1 month’s rent | § 47-16-07.1(1) |
| Ohio | No limit | No statute |
| Oklahoma | No limit | No statute |
| Oregon | No limit | No statute |
| Pennsylvania | 2 months’ rent | § 250.511a |
| Rhode Island | 1 month’s rent | § 34-18-19(a) |
| South Carolina | No limit | No statute |
| South Dakota | 1 month’s rent | § 43-32-6.1 |
| Tennessee | No limit | No statute |
| Texas | No limit | No statute |
| Utah | No limit | No statute |
| Vermont | No limit | No statute |
| Virginia | 2 months’ rent | § 55.1-1226(A |
| Washington | No limit | No statute |
| Washington, D.C. | 1 month’s rent | 14 § 308.2 |
| West Virginia | No limit | No statute |
| Wisconsin | No limit | No statute |
| Wyoming | No limit | No statute |