Lease dictionary
Security deposit
Money held against damage and unpaid rent - with strict state rules on limits and returns.
A security deposit is your money, held by the landlord as protection against damage beyond normal wear and tear and unpaid rent. States regulate it heavily: caps (often 1–2 months' rent), storage rules, and hard deadlines for returning it after move-out (commonly 14–45 days) with an itemized list of deductions.
Miss the deadline or pad the deductions and many states make the landlord liable for two or three times the amount withheld.
Watch out
Always give a forwarding address in writing at move-out - several states' return clocks don't start (or penalties weaken) without it.
See it in action
The Security deposit recovery puts this term to work for you.