How much can a landlord charge for a security deposit in Ohio?

The state of Ohio does not set a limit on how much a landlord can charge a tenant as a security deposit. The landlord could charge nothing or could charge one million dollars if they wanted. Most landlords will charge between one and two months’ rent.

When do you have to return security deposit in Ohio?

Timeline for Security Deposit Return in Ohio. 30 Days: Ohio’s landlord tenant law sets a time limit for landlords to return their tenants’ security deposits. Tenants in Ohio have the right to the return of their security deposit within 30 days of move-out.

When does a landlord have to use a security deposit?

The landlord can only use the security deposit when the lease or tenancy has ended or has been terminated. Also, the landlord can only use the security deposit to cover: The cost of damage caused by the tenant’s failure to comply with obligations as a tenant.

Can a landlord be sued for security deposit?

Defend yourself in court if a tenant sues you for the security deposit. Even the most meticulous landlord may be sued by a tenant over the return of a security deposit. Fortunately, you can take some basic steps to minimize the possibility that you’ll spend hours in court haggling over back rent, cleaning costs, and damage to your rental property.

Can a landlord keep a security deposit in Ohio?

2. 4 Reasons a Landlord Can Keep a Tenant’s Security Deposit in Ohio. 3. 2 Times Security Deposits Must Earn Interest. 4. 30 Days to Return Security Deposit. 5. Transferring the Security Deposit in Ohio When You Sell Your Property. In the state of Ohio, there is no statewide limit on how much a landlord can charge a tenant as a security deposit.

How long to itemize security deposit in Ohio?

Make sure you meet the Ohio deadline of 30 days for itemizing and returning the tenant’s deposit. The itemization should be in writing and state how the deposit has been applied toward back rent and costs of cleaning and damage repair, together with whatever is left of the deposit.

How to get a tenant to pay your security deposit?

Start by writing a demand letter to the tenant, asking for the amount of your claim. Include a copy of your written itemization of how you applied the tenant’s security deposit to the charges (this itemization should have requested payment of the balance). Ask for exactly what you want and be sure to give the tenant a deadline.

What happens if you fail to return a security deposit in Ohio?

Obviously, if you have failed to meet your state deadline for returning the deposit (30 days in Ohio), do what you can to make things right. If not, and the tenant sues you and wins, you may end up losing the entire deposit, plus be assessed hefty penalties or punitive damages if you acted in bad faith when violating state security deposit law.