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

Yes, in Washington, landlords are limited as to how much they can charge for a security deposit. Generally, landlords can charge between the equivalent of one to two months of rent for a security deposit. However, in some cases, landlords can charge an additional half month of rent if the tenant has a pet or if the tenant has a poor credit history. In Washington, the security deposit must be clearly outlined in the lease agreement. The landlord must also disclose information on how the security deposit will be protected and refunded. For example, landlords must disclose the name of the financial institution holding the deposit, the interest rate the deposit is earning, the annual or periodic statement of the account, and the date when the security deposit will be refunded. The landlord must return the security deposit within 21 days of the end of the tenancy, unless the landlord is making a claim against the security deposit. In that case, the landlord must provide written notice detailing the amount of the claim and the reasons why, within 21 days. If the landlord doesn’t provide this notice, the landlord must return the full amount of the security deposit within 21 days.

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

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