Are there limits on how much a landlord can charge for a security deposit?

Yes, there are limits on how much a landlord can charge for a security deposit in North Carolina. A landlord must charge no more than two months’ rent for an unfurnished dwelling, and no more than one month’s rent for a furnished dwelling. Additionally, for a lease of three months or less, the landlord must charge no more than the actual rent for the tenancy. Landlords are also required to keep the security deposit in a trust account or escrow account in a North Carolina bank and provide a receipt or other evidence of the deposit amount. Additionally, the amount of the deposit must be held in trust, and the tenant must be informed of the banking address and the account number. A tenant may also be required to pay a pet deposit, as long as the total amount of all deposits does not exceed two months’ rent for an unfurnished dwelling, or one month’s rent for a furnished dwelling. If the landlord fails to comply with any of the provisions regarding security deposits in North Carolina, the tenant may be able to pursue a claim in court and receive twice the amount of the security deposit plus court costs and attorney’s fees.

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Are there limits on how much a landlord can charge for a security deposit?

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