Security Deposits

• Amount 

  • Generally, a landlord will ask for up to a month’s rent as a security deposit. Anything more than that will accrue interest at a rate of 5%.

    • ORC 5321.16(A) (https://codes.ohio.gov/orc/5321.16)

• Getting your security deposit back

  • Upon termination of the rental agreement, a landlord may apply this security deposit to any rent owed or damages suffered to the rental unit. Any deduction from the security deposit to cover these damages or rent owed must be itemized in a written notice to be delivered to the tenant with the remainder of the security deposit within 30 days of termination of the lease.

  • The tenant should provide the landlord with a forwarding address in writing. If the tenant has done this, they can then recover their deposit and reasonable attorney fees if the landlord fails to return the deposit within 30 days.

    • ORC 5321.16 (https://codes.ohio.gov/orc/5321.16)