How Long Does It Take To Get Security Deposit Back?

In Arizona, landlords have 14 business days to return any unused portion of a security deposit, if applicable. Of course, there are scenarios where landlords will keep the entire deposit due to things like excessive damage to the rental unit.

What Is A Security Deposit?

If you are moving into an apartment, you will likely need to pay a security deposit. This is simply the reality of renting. Security deposits serve as a safety net for both landlords and tenants. Typically, you will pay a security deposit when you sign your lease.

Prospective renters will usually pay the security deposit when signing the lease. Property owners or management companies want this protection in place before handing over the keys to an apartment.

Renters will want this protection, as well. The majority of landlords will allow renters to take note of any damages or flaws of the property upon move-in. When these issues are recorded, the renters will not be at fault when their lease agreement expires. Always do an apartment walkthrough, taking notes and pictures of any noticeable issues.

How Much Is A Security Deposit?

Security deposits ultimately depend on the cost of monthly rent. Most standard security deposits will be the equivalent of one month’s rent. So, if your monthly rent is $1,500, you’ll likely pay that same amount for the security deposit.

Some states do limit the security deposit amount required. Several other states, however, have no statutory requirements regarding security deposit amounts. Always reference your state’s tenancy laws ahead of time.

How Long Does It Take To Get Your Security Deposit Back?

Again, this will vary based on location, but most states must return a security deposit within 30 days. Of course, landlords have the right to deduct damage costs from your deposit. Unfortunately, if damages exceed your security deposit amount, you may not get any money back.

Most states generally dictate the acceptable reasons for landlords to keep a security deposit. If you are a responsible tenant, you can get your full security deposit back upon moving out.

As mentioned, landlords in Arizona have 14 business days to return this deposit. This time period officially begins as soon as the tenant terminates the lease, requests the security deposit, and officially vacates the rental unit.

How To Get Your Full Security Deposit Back

Of course, every renter hopes to get their full security deposit back upon move out. Here are a few tips to help you get your security deposit back in full:

• Always make sure your rent payments are up to date.
• Notify your landlord or property manager before you move.
• Return all keys promptly.
• Attend the move-out inspection.
• Pack all your belongings.
• Take detailed notes.
• Clean up and make minor repairs, if necessary.