Q. How much can a landlord charge a tenant for a security deposit?
A. Massachusetts law allows landlords to charge tenants the equivalent of one month's rent for the security deposit. A security deposit includes: pet deposits, cleaning deposits, or any other "deposits."
Q. Can I pay a security deposit in cash?
A. You can, but you lose your ability to verify the amount you paid or that you paid. It is a really, really, bad idea to pay rent or a security deposit in cash.
Q. When does the landlord have to return a security deposit?
A. Massachusetts law requires a landlord return the tenant's security deposit within 30 days after the tenant has vacated the unit. However, a landlord may make deductions in accordance with G.L. 186 sec. 15B; so long as it is within that 30 days.
Q. Am I entitled to a receipt?
A. Yes. Landlords are required to provide the tenant with a receipt indicating the amount of the deposit; the name of the person receiving it, and, if received by a property manager, the name of the lessor for whom the security deposit is received; the date on which the deposit is received; and a description of the premises leased or rented.
Q. Do I have a right to know where my security deposit is being held?
A. Yes, a landlord is required to disclose the name and location of the bank in which the deposit has been deposited, and the amount and account number of the deposit, within 30 days of receiving it.
Q. Am I entitled to interest on my security deposit?
A. Yes, Landlords in Massachusetts must pay tenants either; the actual interest earned annually or 5% interest on the security deposit per year.
Q. What if the landlord breaks one of the above rules?
A. Depending on which rule you may be entitled to the immediate return of your security deposit, but you must demand in writing that return.
Q. What if the landlord still won't return the security deposit?
A. I'm glad you asked, If the landlord fails to return, after demand the tenant's security deposit within a reasonable time (usually 30 days) the landlord may be liable for three times the security deposit, plus attorney's fees.
A. Massachusetts law allows landlords to charge tenants the equivalent of one month's rent for the security deposit. A security deposit includes: pet deposits, cleaning deposits, or any other "deposits."
Q. Can I pay a security deposit in cash?
A. You can, but you lose your ability to verify the amount you paid or that you paid. It is a really, really, bad idea to pay rent or a security deposit in cash.
Q. When does the landlord have to return a security deposit?
A. Massachusetts law requires a landlord return the tenant's security deposit within 30 days after the tenant has vacated the unit. However, a landlord may make deductions in accordance with G.L. 186 sec. 15B; so long as it is within that 30 days.
Q. Am I entitled to a receipt?
A. Yes. Landlords are required to provide the tenant with a receipt indicating the amount of the deposit; the name of the person receiving it, and, if received by a property manager, the name of the lessor for whom the security deposit is received; the date on which the deposit is received; and a description of the premises leased or rented.
Q. Do I have a right to know where my security deposit is being held?
A. Yes, a landlord is required to disclose the name and location of the bank in which the deposit has been deposited, and the amount and account number of the deposit, within 30 days of receiving it.
Q. Am I entitled to interest on my security deposit?
A. Yes, Landlords in Massachusetts must pay tenants either; the actual interest earned annually or 5% interest on the security deposit per year.
Q. What if the landlord breaks one of the above rules?
A. Depending on which rule you may be entitled to the immediate return of your security deposit, but you must demand in writing that return.
Q. What if the landlord still won't return the security deposit?
A. I'm glad you asked, If the landlord fails to return, after demand the tenant's security deposit within a reasonable time (usually 30 days) the landlord may be liable for three times the security deposit, plus attorney's fees.
