What are the penalties for failing to return the security deposit or account for it in the time allowed?
A landlord who does not return a tenant’s security deposit, or an accounting of what amount of the deposit was withheld and the portion of the deposit not withheld, within the time allowed by law may be subject to additional damages. These damages include up to three times the amount of the deposit withheld, and if a tenant is successful, the tenant’s reasonable attorney’s fees and costs associated with recovering the withheld deposit amount. Be advised that, prior to commencing any lawsuit against a landlord for wrongful withholding of a security deposit, a tenant must give the landlord a 7 day notice of the intent to sue. No suit can be commenced until the expiration of that 7 day time period.
