Glossary → Real Estate
Real Estate

Security Deposit

Money held by a landlord to cover damage or unpaid rent.

A security deposit is money you pay up front that the landlord holds and must return — minus lawful deductions — after you move out. State law sets the maximum amount, the return deadline (often 14–30 days), and what can be deducted. Normal wear and tear cannot be charged to you.

In practice

In many states, the landlord must return your deposit with an itemized statement within 21–30 days, or face penalties.

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