Most residential landlords require tenants to pay a security deposit to cover any repairs needed when the tenant moves out, or to cover the tenant’s failure to pay the last month's rent.

Laws vary from state to state, but many states have statutes that provide the maximum amount of security deposit a landlord may require for a residential lease and the costs for which the landlord may use the security deposit (cleaning, repairs, unpaid rent) following termination of the lease.

These laws also provide a specific deadline (often 30-60 days) for the landlord to return the tenant’s security deposit following termination of the lease—after deducting any amount properly withheld, as allowed by law.

In Florida, residential landlords can require tenants to pay a security deposit as a safeguard against damages to the property, cleaning costs, or unpaid rent. Florida law does not specify a maximum amount for security deposits, leaving this to the discretion of the landlord and tenant to agree upon. However, Florida statutes do regulate the handling of these deposits. Landlords must either hold the security deposits in a non-interest-bearing account or in an interest-bearing account and pay the tenant any interest earned annually and at the end of the tenancy. Additionally, landlords must provide tenants with written notice of the manner in which the security deposit is being held within 30 days of receiving it. Upon termination of the lease, Florida law requires landlords to return the security deposit to the tenant within 15 to 60 days, depending on whether the landlord intends to impose a claim on the deposit. If the landlord plans to make a claim, they must provide the tenant with a written notice by certified mail, outlining the reasons for imposing the claim, within 30 days after the tenant vacates the premises. The tenant then has 15 days to object to the claim. If the landlord fails to follow these procedures, they may forfeit their right to impose a claim on the deposit.