Security Deposit Limitations
The Security Deposit Limitation policy ensures equitable access to housing by limiting upfront charges related to security deposits and prepaid rent.
Rules to Remember
- Security deposit limit: Owners may not demand, charge, retain or accept from a renter a security deposit in an amount that exceeds a single month’s rent. See exception.
- Prepaid rent limit: Owners may not demand, charge, retain, or accept from a renter prepaid rent that exceeds a single month’s rent. See exception.
Exceptions
If a rental application could be denied, an owner may request an additional single month’s security deposit or prepaid rent amount as a condition of approval.
This policy does not prevent an owner from charging a pet deposit or rental application fee.