Do I have to pay interest on a security deposit?

It depends entirely on your state, and in some places your city. A number of states require it, often at a fixed rate or the bank passbook rate, paid annually or at move-out, and most do not require it at all. Set the rate here from your own statute rather than from the default.

What can a landlord deduct from a security deposit?

Generally unpaid rent, damage beyond ordinary wear and tear, and cleaning to return the unit to move-in condition. Ordinary wear and tear is not deductible: faded paint, traffic-lane carpet wear, small nail holes. Most states require deductions to be itemized in writing with actual costs, which is why every line here takes an exhibit letter and a receipt.

What happens if I miss the deadline to return a deposit?

It varies by state and the penalties are real. Several states forfeit your right to deduct anything at all once you are late, and some award the tenant double or treble the deposit plus attorney fees. Set the deadline counter from your own statute.

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Security Deposit Settlement

Work out what you owe the tenant, itemise what you are keeping, attach the receipts, and print the statement.

When a tenancy ends you generally owe the deposit back, plus any interest your state requires, less deductions you can itemize and prove. This tool does all three: it works out the interest on a simple or annually compounded basis, itemizes what you are keeping with an exhibit letter against each receipt, and prints a statement of deposit disposition you can sign and send. Files you attach never leave your browser — there is no upload and no account.

Statement of deposit dispositionAll figures USD · click any number to type it exactly

The tenancy

Property address

Landlord

Tenant

Tenancy began

Tenancy ended

Forwarding address

Where the deposit was held

The deposit

Deductions

Put the exhibit letter beside anything you have a receipt for.

Receipts and invoices

ATTACH FILES Images and PDFs. Nothing is uploaded — files stay in this browser and print with the statement.

No receipts attached yet.

Statement of Security Deposit Disposition

Complete the tenancy details above

Balance due to tenant

Landlord signature and date

Method of delivery and date sent

Before you send it

Interest working

Deadline

This is a calculator and a form, not legal advice. Security deposit law is state law and it varies enormously — whether interest is owed at all, at what rate, how quickly the balance must be returned, what an itemisation must contain, and what happens if you get it wrong. Several states impose double or treble damages for a late or incomplete return. Set the rate and the deadline from your own state’s statute or your attorney’s advice, not from the defaults here, and check them each year.

What you generally cannot deduct. Ordinary wear and tear is not damage: faded paint, worn carpet in traffic lanes, small nail holes and loose fixtures come out of your return, not the deposit. Deductions usually need to be itemised in writing with actual cost, which is what the exhibit column and the attachments are for. A receipt attached to the statement is the difference between a deduction that holds up and one that does not.

Nothing here leaves your browser. The tenant’s name, the address and every file you attach stay on this device. There is no upload, no account and no server. Print the statement, or save it as a PDF, and the exhibits print with it.

Common questions

Do I have to pay interest on a security deposit?: It depends entirely on your state, and in some places your city. A number of states require it, often at a fixed rate or the bank passbook rate, paid annually or at move-out, and most do not require it at all. Set the rate here from your own statute rather than from the default.
What can a landlord deduct from a security deposit?: Generally unpaid rent, damage beyond ordinary wear and tear, and cleaning to return the unit to move-in condition. Ordinary wear and tear is not deductible: faded paint, traffic-lane carpet wear, small nail holes. Most states require deductions to be itemized in writing with actual costs, which is why every line here takes an exhibit letter and a receipt.
What happens if I miss the deadline to return a deposit?: It varies by state and the penalties are real. Several states forfeit your right to deduct anything at all once you are late, and some award the tenant double or treble the deposit plus attorney fees. Set the deadline counter from your own statute.