Key Takeaways
- ✓Florida has no statutory limit on security deposit amounts.
- ✓Deposits must be held in a separate FL bank account or covered by a surety bond.
- ✓Full return within 15 days if no deductions; claim letter within 30 days if deductions.
- ✓Missing the 30-day claim deadline forfeits ALL deduction rights.
- ✓The claim letter must be sent by certified mail to the tenant's last known address.
Quick answer: Florida law does not cap security deposit amounts, but requires landlords to hold deposits in a separate Florida bank account (or post a surety bond), notify tenants in writing within 30 days of receipt, and return the deposit within 15 days of lease end (no deductions) or send a written claim letter within 30 days (with deductions). Missing these deadlines means you forfeit the right to keep any portion of the deposit.
How Much Can You Charge for a Security Deposit in Florida?
Florida is one of the states with no statutory cap on security deposits. You can legally charge any amount the market supports. In practice, most landlords in the Tampa Bay area charge one month's rent as a standard deposit.
Some situations justify charging more — tenants with lower credit scores, tenants with pets (separate pet deposits are common), or luxury properties. However, charging significantly above one month's rent can reduce your applicant pool and extend vacancy.
How Must You Hold Security Deposits in Florida?
Florida Statute 83.49(1) requires landlords to hold security deposits in one of three ways:
Option 1: Non-Interest-Bearing Account
Hold the deposit in a separate non-interest-bearing account in a Florida banking institution. This is the simplest approach and the one most individual landlords use.
Option 2: Interest-Bearing Account
Hold the deposit in an interest-bearing account in a Florida banking institution. You must pay the tenant either 75% of the annualized average interest rate or 5% simple interest per year — whichever the landlord chooses. Interest must be paid annually and at the end of the tenancy.
Option 3: Surety Bond
Post a surety bond with the clerk of the county court for the total amount of security deposits held. The landlord must pay the tenant 5% simple interest per year. This option is more common for large property management companies managing many units.
Critical requirement: Within 30 days of receiving the deposit, you must notify the tenant in writing of how the deposit is being held, the name and address of the bank, and whether the account is interest-bearing or not. This notice is separate from the lease.
The 15-Day and 30-Day Return Timeline
When a tenant vacates, you have two possible timelines:
No Deductions = 15 Days
If you have no claim against the deposit — no damage, no unpaid rent — return the full deposit within 15 days of the tenant vacating and surrendering possession.
With Deductions = 30 Days
If you intend to claim any portion of the deposit, you must send a written claim letter by certified mailto the tenant's last known address within 30 days. The letter must itemize each deduction with specific amounts.
The Security Deposit Claim Letter
The claim letter is the most legally sensitive document in the deposit return process. Florida Statute 83.49(3) specifies the exact language that must appear in the notice. The letter must include:
- • Your name and address as landlord.
- • An itemized list of deductions with specific dollar amounts.
- • The statutory language informing the tenant they have 15 days to object.
- • The amount being returned (if any) after deductions.
After receiving the claim letter, the tenant has 15 days to object in writing. If the tenant does not object within 15 days, the landlord may deduct the claimed amounts. If the tenant objects, the dispute may proceed to court.
What Can You Deduct From a Security Deposit?
Allowable deductions include:
- • Unpaid rent — including rent through the end of the lease term if the tenant broke the lease early.
- • Damage beyond normal wear and tear — holes in walls, stained or burned carpet, broken fixtures, damaged appliances.
- • Cleaning costs — if the property requires professional cleaning beyond normal turnover.
- • Other lease violations — unauthorized modifications, disposal of abandoned property, etc.
You cannotdeduct for normal wear and tear — minor wall scuffs, carpet wear in high-traffic areas, fading paint, or minor nail holes for picture hanging. The line between "damage" and "normal wear" is the most common source of deposit disputes.
Common Security Deposit Mistakes That Cost Landlords
How We Handle Security Deposits
Our property management service handles every step — deposit collection, proper holding, move-in/move-out inspections with photo documentation, itemized claim letters, and compliant return timelines. We have never missed a statutory deadline. Learn about our full-service management.
Frequently Asked Questions
Frequently Asked Questions
Is there a maximum security deposit in Florida?+
How long does a landlord have to return a security deposit in Florida?+
Where must a Florida landlord hold security deposits?+
What can a landlord deduct from a security deposit in Florida?+
What happens if a Florida landlord does not return the deposit on time?+
Barrett Henry
Designated Property Manager
23+ years of Florida real estate experience. Barrett lives in Valrico and manages rentals across east Hillsborough County — the same neighborhoods he drives through every day.
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