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But the bad news is that there is no state law in California requiring a landlord to pay interest on a security deposit.
How much can a landlord ask for? A tenancy deposit cannot usually be more than 5 weeks' rent. This limit applies to assured shorthold tenants, students in halls of residence, and lodgers - as long as your rent is less than £4,167 a month.
A landlord can deduct from the tenant's security deposit: The cost of fixing any damages to the property caused by the tenant or the tenant's guests. ... The cost of cleaning the unit when the tenant moves out, but only to make the unit as clean as it was when the tenant first moved in (less reasonable wear and tear).
If the security deposit is for a residential property without furniture, the security deposit may equal 2 times the rent. If the residence is furnished, the landlord may charge up to 3 times the rent. There is no restriction on the amount of the security deposit for the rental of a commercial property.
But the bad news is that there is no state law in California requiring a landlord to pay interest on a security deposit. You can check to see whether your local jurisdiction has an ordinance requiring interest to be paid on security deposits. Some local rent control ordinances do require landlords to pay interest.
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Before a tenant moves in, you may require them to pay a security deposit to ensure the rental property is maintained, the rent gets paid and the lease agreement is upheld. According to the Zillow Group Housing Trends Report 2020, 88% of renters pay a security deposit, and the typical security deposit amount is $700.
How much can a landlord ask for? A tenancy deposit cannot usually be more than 5 weeks' rent. This limit applies to assured shorthold tenants, students in halls of residence, and lodgers - as long as your rent is less than £4,167 a month.
How much does a security deposit cost? Most often, the amount of a security deposit is equivalent to one month's rent. For example, if a home or an apartment rents for $5,000 per month, the security deposit would also total $5,000.
If your landlord has not protected your deposit within 30 days, you can take legal action against them, including claiming back up to 3X the original deposit amount as compensation.
You can get your deposit back by suing in small claims court. If the landlord misses the 21-day deadline, he forfeits the right to deduct anything. If he keeps the money in bad faith, you can sue for up to 3 times the amount of the deposit. The process is quick, easy, and inexpensive.

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