Security deposit laws are also widespread. Caps generally range from one to two months’ rent, with some states allowing exceptions for pets, furnished units or renters receiving assistance. Refund timelines vary. Arizona and Hawaii mandate returns within 14 days, Alabama allows 60 days and over a dozen states require landlords to pay interest on deposits.
Shoreline, Washington, offers a particularly innovative model. The city caps total move-in costs at one month’s rent and allows tenants to spread payments for deposits, move-in fees and last month’s rent over up to six months.
Broker fees, often significant in large, high-cost markets, are now prohibited for tenants in Boston and New York City. In New York, the Fairness in Apartment Rental Expenses (FARE) Act also mandates that landlords disclose all fees and prohibits forcing tenants to use brokers, providing both transparency and cost relief. Massachusetts recently enacted similar restrictions for broker fees.
More than a dozen states require landlords to pay interest on deposits, though rules vary by jurisdiction. These policies reflect an evolving attempt to balance renter protections with landlords’ need to cover legitimate administrative expenses, while also allowing tenants to spread out costs over time.
Source: GlobeSt.
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