What Is a Security Deposit?
A security deposit is money a tenant pays to a landlord before or at the start of a lease to protect the landlord against unpaid rent, property damage beyond normal wear and tear, and other lease violations. When the lease ends and the tenant vacates, the landlord must either return the deposit or provide a written claim explaining any deductions.
Florida Security Deposit Law
Section 83.49, Florida Statutes imposes strict requirements on landlords:
Holding the Deposit
- The landlord must hold the deposit in a separate non-interest-bearing account at a Florida banking institution, or
- Hold it in a separate interest-bearing account (with interest paid to the tenant), or
- Post a surety bond with the county clerk equal to the deposit amount.
Within 30 days of receiving the deposit, the landlord must notify the tenant in writing of the bank name, address, and whether the account is interest-bearing or non-interest-bearing.
Returning the Deposit
- No claim against deposit — The landlord must return the full deposit within 15 days of the tenant vacating.
- Claim against deposit — The landlord must send a written notice by certified mail within 30 days of the tenant vacating, specifying the amount claimed and the reason. The tenant then has 15 days to object.
- If the landlord fails to send the 30-day notice, the landlord forfeits the right to impose a claim against the deposit.
What Landlords Can Deduct
- Unpaid rent
- Damage beyond normal wear and tear
- Early termination fees if specified in the lease
- Cleaning costs if the tenant left the unit in a condition requiring cleaning beyond normal turnover
Normal wear and tear (faded paint, worn carpet, minor scuff marks) is not a valid deduction.
Related Terms
- Lease Agreement — The contract that establishes the deposit terms
- Landlord — The party who holds the deposit
- Tenant — The party who pays the deposit
- Escrow — Security deposits are held in a form of escrow
Barnes Walker Landlord-Tenant Services
Barnes Walker's real estate attorneys advise landlords and tenants on security deposit compliance, disputes, and lease enforcement throughout Southwest Florida. Request a legal inquiry for assistance.
Florida Law Reference
Fla. Stat. Ch. 83, Part II
The Florida Residential Landlord and Tenant Act governs lease agreements, security deposits, maintenance obligations, and the eviction process.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC