Are there any laws governing the use of tenants' security deposits?

Yes, there are laws governing the use of tenants’ security deposits in Massachusetts. The Massachusetts Security Deposit Law is a set of laws that outlines how landlords must handle tenants’ security deposits. According to the law, a landlord must keep the tenant’s security deposit in a separate bank account and must pay interest on it during the tenancy. Furthermore, the landlord must return the tenant’s security deposit with interest at the end of the tenancy, usually within 30 days. The landlord must use the security deposit to cover any damages caused by the tenant and can only keep the deposit, or any portion of it, if the tenant has failed to fulfill their obligations as laid out in the lease agreement. Additionally, the landlord has the right to deduct from the security deposit to cover unpaid rent or utilities bills. If the tenant disagrees with the amount of deposit held by the landlord, he or she can go to court to have the matter settled. Overall, the Massachusetts Security Deposit Law is very important as it provides tenants with protection and ensures that their security deposits are not misused. This law ensures that landlords are held accountable for how they handle tenants’ security deposits and ensures that tenants are able to get their deposits back when their tenancy ends.

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Are there any laws governing the use of tenants' security deposits?

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