What Requirements must a Landlord follow in order to collect a Deposit?
A landlord who collects a deposit or as a security for performance of the tenants obligations in a lease or rental agreement must meet following requirements: 1. Written Lease: Must be written lease that includes terms under which a deposit may be withheld. 59.18.260 2. Written Checklist: The Landlord must provide the tenant at the commencement of tenancy a written checklist describing the condition of the premises. The Checklist or statement must be signed and dated by the Landlord and the tenant must receive a copy. 59.18.260 3. Placement into Trust account: Money collected as a deposit by the landlord must be placed in trust account in a band or with licensed escrow agent. RCW 18.270 4. Receipt: LL must provide the tenant with a written receipt for the deposit, RCW 58.18.270 5. Refund of Deposits: LL must refund a deposit or give a written statement describing the basis for retaining any of the deposit within 14 days after termination of rental agreement or abandonment of the premis
