What are the security deposit rules for landlords and tenants in Florida?
No state law limits what a landlord in Florida may require as a security deposit. However, a county or municipal cap on security deposits for residential rentals may exist. Typically, a security deposit is one month’s rent. If a security deposit is held in an interest-bearing account (which is not required), the tenant must be notified and paid interest annually and at the termination of tenancy. A tenant who breaks a lease without consent and moves out before the end of the rental term is not eligible for interest on a security deposit.
Florida law requires a landlord to return a tenant’s security deposit within 15 to 60 days of the tenant vacating the rental property unless the landlord intends to withhold all or part of the deposit to pay for damage to the premises beyond normal wear and tear or for non-payment of rent. A landlord must advise the tenant of any deductions from the deposit within 30 days after they vacate the rental property. If the tenant does not object, the landlord is to return the security deposit balance within 30 days of the initial notice.
A tenant who disputes the landlord’s withholding of a security deposit must do so in writing within 15 days of being notified. If the two parties cannot agree, the matter may be settled in court.