Florida

Security Deposit Amount

No limit. Florida law does not place a maximum limit on the amount of security deposit a landlord can charge. It is typically negotiated between the landlord and tenant and is often equivalent to one or two months' rent.

Options for Holding

Florida security deposit law requires deposits to be held in one of the following ways:

• ‍Non-Interest-Bearing Account: The landlord can place the security deposit in a non-interest-bearing account in a Florida banking institution. The account must not be commingled with the landlord’s other funds.‍
• Interest-Bearing Account: The landlord can place the security deposit in an interest-bearing account in a Florida banking institution where the tenant is entitled to receive 75% of the interest earned or 5% per year, whichever the landlord chooses, paid annually. The account must not be commingled with the landlord’s other funds.‍
• Surety Bond: The landlord may choose to post a surety bond with the clerk of the circuit court in the county where the rental property is located*. The bond must be in the total amount of the security deposits or $50,000, whichever is less. The tenant is entitled to 5% interest, paid annually.

*A landlord engaged in the renting of dwelling units in five or more counties may, in lieu of posting a surety bond in each county, elect to post a surety bond with the office of the Secretary of State. The bond shall be in the total amount of the security deposit held on behalf of tenants or in the amount of $250,000, whichever is less.

Notification Requirements

Within 30 days of receiving the security deposit, the landlord must provide written notice to the tenant that includes:

• The name and address of the depository (bank) where the deposit is being held.
• Whether the tenant is entitled to interest on the deposit and, if so, the rate of interest.
• The following disclosure:
  • YOUR LEASE REQUIRES PAYMENT OF CERTAIN DEPOSITS. THE LANDLORD MAY TRANSFER ADVANCE RENTS TO THE LANDLORD’S ACCOUNT AS THEY ARE DUE AND WITHOUT NOTICE. WHEN YOU MOVE OUT, YOU MUST GIVE THE LANDLORD YOUR NEW ADDRESS SO THAT THE LANDLORD CAN SEND YOU NOTICES REGARDING YOUR DEPOSIT. THE LANDLORD MUST MAIL YOU NOTICE, WITHIN 30 DAYS AFTER YOU MOVE OUT, OF THE LANDLORD’S INTENT TO IMPOSE A CLAIM AGAINST THE DEPOSIT. IF YOU DO NOT REPLY TO THE LANDLORD STATING YOUR OBJECTION TO THE CLAIM WITHIN 15 DAYS AFTER RECEIPT OF THE LANDLORD’S NOTICE, THE LANDLORD WILL COLLECT THE CLAIM AND MUST MAIL YOU THE REMAINING DEPOSIT, IF ANY.
  • IF THE LANDLORD FAILS TO TIMELY MAIL YOU NOTICE, THE LANDLORD MUST RETURN THE DEPOSIT BUT MAY LATER FILE A LAWSUIT AGAINST YOU FOR DAMAGES. IF YOU FAIL TO TIMELY OBJECT TO A CLAIM, THE LANDLORD MAY COLLECT FROM THE DEPOSIT, BUT YOU MAY LATER FILE A LAWSUIT CLAIMING A REFUND.
  • YOU SHOULD ATTEMPT TO INFORMALLY RESOLVE ANY DISPUTE BEFORE FILING A LAWSUIT. GENERALLY, THE PARTY IN WHOSE FAVOR A JUDGMENT IS RENDERED WILL BE AWARDED COSTS AND ATTORNEY FEES PAYABLE BY THE LOSING PARTY.
  • THIS DISCLOSURE IS BASIC. PLEASE REFER TO PART II OF CHAPTER 83, FLORIDA STATUTES, TO DETERMINE YOUR LEGAL RIGHTS AND OBLIGATIONS.

Failure to Notify: If the landlord fails to provide this notice within 30 days, they forfeit the right to make any claim against the deposit, except for unpaid rent.

Payment of Interest Earned

In those cases in which interest is required to be paid to the tenant, the landlord shall pay directly to the tenant, or credit against the current month’s rent, the interest due to the tenant at least once annually. However, no interest shall be due a tenant who wrongfully terminates his or her tenancy prior to the end of the rental term.

Timeline for Returning

No Deduction: Upon the termination of the lease, the landlord has 15 days to return the full security deposit if there are no deductions

Claiming a Deduction: If the landlord intends to make deductions, they must notify the tenant in writing within 30 days of lease termination

Claims Process

The landlord must notify the tenant in writing via Certified Mail to the tenant’s last known address within 30 days of lease termination. This notice must detail:

• The amount of the security deposit to be withheld.
• The specific reasons for the deduction (e.g., damages, unpaid rent)
• The following statement in substantially the following form:
  • THIS IS A NOTICE OF MY INTENTION TO IMPOSE A CLAIM FOR DAMAGES IN THE AMOUNT OF [$CLAIM] UPON YOUR SECURITY DEPOSIT, DUE TO [REASON(S) FOR CLAIM]. IT IS SENT TO YOU AS REQUIRED BY S. 83.49(3), FLORIDA STATUTES. YOU ARE HEREBY NOTIFIED THAT YOU MUST OBJECT IN WRITING TO THIS DEDUCTION FROM YOUR SECURITY DEPOSIT WITHIN 15 DAYS FROM THE TIME YOU RECEIVE THIS NOTICE OR I WILL BE AUTHORIZED TO DEDUCT MY CLAIM FROM YOUR SECURITY DEPOSIT. YOUR OBJECTION MUST BE SENT TO [LANDLORD’S ADDRESS].

The tenant has 15 days to object to the landlord’s claim in writing.

• If the tenant disputes the claim, the matter may need to be resolved in court.
• If the tenant does not object*, the landlord may deduct the amount of his or her claim and shall remit the balance of the deposit to the tenant within 30 days of the date of the notice of intention to impose a claim for damages.

*The failure of the tenant to make a timely objection does not waive any rights of the tenant to seek damages in a separate action.

Florida landlords can only deduct from the security deposit for:

• Unpaid rent.
• Damage to the property beyond normal wear and tear.
• Costs for cleaning if the property is not returned in a clean condition, provided the lease specifies such a requirement.
• Any other charges specified in the lease agreement.

Florida law prohibits landlords from charging tenants for normal wear and tear, such as minor scuffs on walls, small nail holes, or carpet wear.

Failure to Notify Where Deposit Held: If the landlord fails to provide this notice within 30 days, they forfeit the right to make any claim against the deposit, except for unpaid rent.

Improper Handling: If the landlord does not place the deposit in the correct type of account or fails to notify the tenant as required, the tenant can demand the immediate return of the deposit with interest.

Claims Process Non-Compliance: If the landlord fails to return the security deposit or provide the required notice within the specified timeframe, the tenant may sue to recover the full amount of the security deposit plus damages equivalent to twice the amount wrongfully withheld, along with court costs and attorney’s fees.

New Owner’s Responsibility: If the rental property is sold or transferred, the original landlord must transfer the security deposit, along with any accrued interest, to the new owner. The original landlord must also notify the tenant in writing of this transfer, providing the new owner’s name and address. The new owner then assumes responsibility for the deposit.

Foreclosure: If the rental property goes into foreclosure, the security deposit must be returned to the tenant within 30 days after the foreclosure sale.

Military Service: Special protections are provided under federal law for tenants who are active-duty military personnel, which may include provisions related to lease termination and security deposits.