Following the later of lease termination or surrender and acceptance of the premises, a landlord shall return the full security deposit within what period of time unless the lease agreement specifies a longer period of time?

Question

Leonardo Sloan

Social Studies

17 February, 04:20

Following the later of lease termination or surrender and acceptance of the premises, a landlord shall return the full security deposit within what period of time unless the lease agreement specifies a longer period of time?

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Answers (1)

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Big Mac · Answer 1

Generally, a landlord shall return the full security deposit within one month or 30 days.

Explanation:

In most states, the dateline to return security deposit as provided in state's security deposit statutes is within a month or 30 days after lease termination or surrender and acceptance of the premises.

In case if a lease agreement specifies a longer period of time for the return of the security deposit, the tenant must forward a demand letter, which applies in both lease termination and lease agreement, and comply with the dateline as specified in the agreement. Therefore, it is the sole responsibility of the tenants to carefully read the terms and conditions of the lease agreement before signing it.

In states like Alabama, Arkansas, Florida and West Virginia, the dateline for returning security deposit may extend up to 45 days to 60 days according to the agreement presented by the landlord.