Does the landlord have to place your security deposit in a separate account?
I live in California, Redwood City. Does he have to show proof that it is in a separate account/provide bank address etc? Which law/provision states this?
I recently discovered that he spent my security deposit to pay off debt to his brother. In other words, he doesn’t have my deposit, is broke, and is depending on the next renter to pay me my security deposit.
8 Responses
reenzz
08 Jun 2010
bumblebee
08 Jun 2010
In Mass they have to put in in an escrow account and pay you the interest……and they have to send you a statement on it. Call a lawyer that is versed in rental agreements ( the call will cost you nothing but your time as the fist consultation is free.) Most lawyers love to talk so they will give you a lengthy answer.
litbsh
08 Jun 2010
yes
KENNETH D
08 Jun 2010
No. But he has to return it at the end of your lease if you satisfy all the conditions attached to your lease.
Jim Z
08 Jun 2010
Depends on what state you are in. Many states require an escrow account, but the law is not enforced. I have never heard of a case where landlords were forced to prove they have the escrows in a separate account. The only time this may be done is if you are in a mega apt. complex.
rtfm
08 Jun 2010
Here’s the law. It just says he shall "hold" the deposit, not that he must keep it in a separate account:
Classy Granny
08 Jun 2010
Your deposit is suppose to be in a separate interest bearing account, but he does not have to provide you with banking details. That money is his until 30 days after you move out. He must then return it to you minus damages or any unpaid rent. He must also provide you with a detailed list of any damages he claims
Rohan
30 Apr 2014
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California State law does not require the landlord to place the deposit in a seperate account. There are city/town laws (Berkeley, Santa Monica, and San Francisco) that have seperate laws that may require such…depending on the number of units the landlords owes.