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A law change we missed 👀

May 30, 2024

Alert the press.

The security deposit rules changed.

And it's doesn't hurt just the big guys anymore.

Before January 1, 2024, the Security Deposit Return Act only applied to landlords with 5 or more units.

Small fries like you?

You got a free pass.

Not anymore.

Now, before you panic and think about fleeing to Canada, it's not that hard:

  • Send an itemized statement (with receipts) within 30 days after moving out
  • Return the full deposit within 45 days if you don't

We'll spare you the snooze-fest for the rest (get that here).

Now, we hear you saying, "But if I didn't know this law, it can't hurt me!"

You are the only one who thinks that. Carry on.

So don't forget:

The Security Deposit Return Act now applies to all landlords.

Play by the rules (or pay the price).

Don't say we didn't warn you.

By Landlord Legal

No missing pieces, just issue #112 of The Brief.

Big shoutout to Legal Plan Member Trevor for catching this change! 🙌 Even sharp lawyers can miss sneaky changes in the law.  No one in their right mind should DIY this stuff.

DISCLAIMER: Heads up - none of this is legal advice. We share stories and laughs about legal stuff for Landlords.  Do your own homework and stay safe out there!