Are there any laws governing the use of tenant's security deposits?
Yes, there are laws governing the use of tenant’s security deposits in New Hampshire. According to the New Hampshire Residential Landlord and Tenant Act, a landlord must provide the tenant with a written receipt for any security deposit that is paid. This receipt should include the amount of the security deposit, the name of the person who paid the security deposit, and an acknowledgement that the deposit is being held by the landlord. The landlord is then required to deposit the security deposit in a separate account in a financial institution in New Hampshire. The landlord must provide the tenant with a written statement that the security deposit is being held and the name of the financial institution used. The landlord must also provide the tenant with a written statement showing how the security deposit has been invested. Finally, the landlord cannot use the tenant’s security deposit for any other purpose than to cover any damage to the rented unit, reimbursement of rent for unpaid rent or breach of the lease agreement. The landlord must return the tenant’s security deposit within 30 days of the termination of the rental agreement or surrender of the keys by the tenant. If the landlord does not return the security deposit within this time frame, the tenant may sue the landlord for the return of any security deposit due.
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