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Are landlords required to hold security deposit amounts in a separate bank account apart from their other assets?

April 26, 2017amounts apart assets bank account deposit hold landlords security separate

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Are landlords required to hold security deposit amounts in a separate bank account apart from their other assets?

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Ans. Not really, landlords are not required to keep security deposit amounts in separate accounts. However, if the state law imposes such a restriction, any landlord who fails to comply by keeping security deposit amounts separately will be held liable for paying damages to his / her tenants.