Fundamentally, state law concerning security deposits have not changed in decades. Until now.
For the visual types, we've put together a handy flowchart to understand the new rules that go into effect beginning July 1, 2024.
Disputes over security deposits, we've found, are the biggest reason landlords are sued in small claims court, but the consequences have become enlarged with additional penalties for withholding security deposits in bad faith and enterprising attorneys all too willing to sue for emotional damages.
Please familiarize yourself with the law surrounding security deposits and if you need any guidance, Bornstein Law will gladly assist.