What Is a Security Deposit Receipt?
A security deposit receipt form is a document that a landlord gives a tenant to show they received a security deposit payment. It proves that the tenant provided a refundable sum of money to protect against damages or unpaid rent, which is often a condition of a lease.
This document refers to the original lease to create a clear record. It also notes the parties’ names, the deposit amount, and the deposit location. With evidence of payment, tenants can request a refund at the end of the lease. Alternatively, landlords can justify keeping the amount for tenant-inflicted damages.
A rental security deposit receipt helps landlords comply with state laws that require its distribution. Even in states that don’t require a security deposit receipt, this document makes the payment details transparent.
How Much Can a Landlord Charge for a Security Deposit?
Be careful with how much you charge a tenant for a security deposit. Some states impose maximum amounts you can charge for a security deposit. Review the rules in your area to ensure compliance.
Do Landlords Have to Provide Receipts for Security Deposits?
Some states require landlords to provide receipts for security deposits, while others do not. Even if there is no state law mandating this document, you should still consider providing it to your tenant to prevent disputes over the payment details.
Explore the states that mandate security deposit receipts and review how long the landlord has to distribute the receipt to the paying tenant.
| State | Law | How Long Does the Landlord Have to Distribute the Receipt? | Notes |
|---|---|---|---|
| Colorado | CO Rev Stat § 38-12-802 | State law doesn't specify | Only required for payments made with cash or money order |
| Connecticut | CT Gen Stat § 47a-3a | State law doesn't specify | Only required for cash payments |
| District of Columbia | DC Mun Regs. tit. 14, r. 14-306 | State law doesn't specify | Not required if the payment is made by personal check |
| Florida | FL Stat § 83.49 | 30 days from when you receive the deposit | Must specify if the deposit will be held in an interest-bearing account |
| Kentucky | KY Rev Stat § 383.580 | State law doesn't specify | Must disclose where the deposit is held |
| Maine | 14 ME Rev Stat § 6022 | State law doesn't specify | Does not apply to rental units located in buildings with five units or fewer where the landlord also lives on-site |
| Maryland | MD Real Prop Code § 8-203 | 30 days from when you receive the deposit | Must document tenants' rights |
| Massachusetts | MA Gen Laws ch. 186 § 15B | 10 days from the start of the tenancy | Must include any existing violations of the state sanitary or state building codes certified by a local board of health or building official or adjudicated by a court |
| Michigan | MI Comp L § 554.603 | 14 days from when the tenant assumes possession of the property | Must include a statement about the tenant's obligation to provide a forwarding mailing address (in writing to the landlord) within 4 days after termination of the lease |
| Nevada | NV Rev Stat § 118A.250 | State law doesn't specify | Only required upon the tenant's request |
| New Hampshire | NH Rev Stat § 540-A:6 | Within 5 days of tenant taking occupancy | Not required when the payment is made via a personal check, a bank check, or a check issued by a government or nonprofit agency on behalf of the tenant |
| New Jersey | NJ Rev Stat § 46:8-49.2 | State law doesn't specify | Only required if the tenant pays in cash |
| New York | NY Gen Oblig L § 7-103 | State law doesn't specify | Must state the location of the security deposit |
| North Carolina | NC Gen Stat § 42-50 | 30 days from the beginning of the lease term | Must state the location of the security deposit |
| Oregon | OR Rev Stat § 90.300(2) | State law doesn't specify | Must state the location of the security deposit |
| Washington | WA Rev Code § 59.18.270 | State law doesn't specify | Must provide written notice of the name and address of the depository and any subsequent change thereof |
| Wisconsin | WI Admin Code § ATCP 134.03 | State law doesn't specify | Not required if payment is made by check bearing a notation describing the purpose for which it was given (unless requested by the tenant) |
Some major cities may also have their own laws. For example:
- Chicago, Illinois: If the security deposit’s location isn’t disclosed in a written rental agreement, the landlord must notify the tenant with a separate receipt of the deposit’s location within 14 days of receiving the deposit (Municipal Code of Chicago § 5-12-080).
- Portland, Oregon: In the lease, the landlord must disclose the address of the bank that’s holding the tenant’s security deposit (Portland Municipal Code § 30.01.087).
How to Write a Receipt for a Security Deposit
Drafting a receipt for a security deposit helps you convey key information about the tenant’s payment. Here’s how to write a security deposit receipt that documents payment and protects against disputes over unpaid rent or lease violations.
- Provide the parties’ information. Write the landlord’s and tenant’s names. Indicate whether there are any additional tenants to create a comprehensive original receipt for payment of the security deposit.
- Write the payment information. Record the deposit amount, the payment method, and the date you received it.
- Explain where it’s stored. Name the bank account where the deposit is stored. Ensure you meet your state’s requirements regarding whether it must be in a separate account or be interest-bearing.
- Associate the deposit with the lease. Clarify which lease the security deposit is associated with by providing the date and the property address.
- List the receipt number. Finalize your tenant deposit receipt by assigning it a unique receipt number. Provide the date for further clarity.
What If I Need to Return a Security Deposit?
If you need to return all or part of a security deposit at the end of a lease, use Legal Templates’s security deposit return letter to document the refund.
Sample Security Deposit Receipt
View an example of our security deposit receipt template to see how you can provide a tenant with proof of payment of their security deposit. Customize your own using our guided form, then download it in PDF or Word format to send to your tenant.
