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Landlords typically require security deposits for both residential and commercial leases, serving as a recovery source for damages beyond normal wear and tear. They must specify the deposit amount and return it within at least 30 days, depending on state laws. Consultation with state and local regulations is essential for accurate timelines on returns. Before collecting a deposit, landlords should inspect the property with the tenant present. Many states impose limits on the amount collectible. If a deposit is required, the lease agreement must include its amount, and landlords are obligated to hold it in an interest-bearing account. If any of the deposit is withheld, proper justification is necessary.