The security deposit invoice is provided to a tenant after a lease agreement is signed between the landlord and tenant. The invoice will include the security deposit amount that is owed by the tenant and how much this amount is compared to one month’s rent (this varies from state to state). It is important that the tenant pay the security deposit before or on the date written on the invoice; the landlord will not permit access to the premises until the security deposit is paid in full. A security deposit invoice should inform the tenant as to when their security deposit will be returned to them (i.e., after the rental period is over – conditions may apply).
Security Deposit Laws By State
|State||Maximum Amount ($)||Returning Period|
|Alabama||1 month’s rent (§ 35-9A-201)||60 days (§ 35-9A-201(e))|
|Alaska||2 months’ rent unless monthly amount is over $2,000 (§ 34.03.070(a))||14 days (§ 34.03.070(g))|