Real estate & rental
Rental Security Deposit Calculator
What to return from a security deposit after legitimate deductions, and the interest some states require.
Result
Tenancy rules are set by state and often by city, and they are among the most locally variable areas of law there is. Deposit limits, notice periods, late fee caps, interest on deposits and rent increase restrictions all differ and change. This is arithmetic, not legal advice; check your own jurisdiction before relying on any of it. Deposit law is strict and unforgiving. Most states set a deadline for returning the deposit with an itemised statement, commonly 14 to 30 days, and failing it can forfeit the right to deduct anything and expose the landlord to multiple damages. Fair wear and tear is never deductible.
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About this calculator
What counts as fair wear and tear?
Deterioration from ordinary use: faded paint, worn carpet in traffic areas, small nail holes. Deductible damage is beyond that, such as burns, large holes, or a carpet ruined rather than worn.
What happens if I miss the deadline?
In many states you lose the right to withhold anything and may owe the tenant two or three times the deposit. It is one of the most commonly litigated areas of tenancy law.
Do I owe interest on the deposit?
In some states and cities, yes, and the rate is set by statute. In others there is no such requirement. It is entirely local.
The formula
return = deposit + any required interest - itemised deductions
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