Security Deposit Calculator
Two calculations in one. Find the largest security deposit you can charge from the rent and your state’s cap, or work out how much of a deposit goes back to the tenant after unpaid rent, cleaning, repairs, and any interest owed.
Lost keys, removed belongings
Only where state or city law requires it
How the deposit math works
- Maximum deposit = monthly rent × the state’s cap in months of rent (for example 1.5 months in Michigan)
- Refund due = deposit + interest owed − unpaid rent − cleaning − repairs − other charges
- If the deductions are larger than the deposit, the refund is $0 and the difference is a balance the tenant still owes
Example. On $1,500 rent with a 1.5-month cap, the most you can collect is $2,250. If the tenant moves out with $150 of cleaning and $300 of repairs beyond normal wear and tear, the deductions total $450 and the refund due is $1,800.
Things to check before you deduct
- Normal wear and tear cannot be deducted: faded paint, light carpet wear, small nail holes, and loose door handles from ordinary use. Damage beyond that, like large holes, pet stains, or broken fixtures, can be.
- Every state sets a deadline to return the deposit, usually 14 to 45 days after move-out (30 days in Michigan). Missing it can cost you the right to keep any of it, and some states add a penalty of two or three times the deposit.
- Most states require an itemized list of deductions with the refund. Keep receipts, invoices, and dated move-in and move-out photos for each charge.
- Some states and cities require interest on deposits, or limit deposits to one month of rent. Check the rules where the property is before collecting or returning a deposit.
Frequently asked questions
How much can a landlord charge for a security deposit?
It depends on the state. Some cap it at one month of rent, many at 1.5 to 2 months, and some set no limit. Michigan allows up to 1.5 months of rent. Furnished units, pets, and older tenants can have different rules in some states.
What can be deducted from a security deposit?
Unpaid rent and fees under the lease, cleaning needed to return the unit to move-in condition, and repairs for damage beyond normal wear and tear. Routine repainting and ordinary carpet wear generally cannot be charged.
How long does a landlord have to return a security deposit?
Usually 14 to 45 days after the tenant moves out and returns the keys, depending on the state. In Michigan, the landlord must mail the refund and an itemized list of any damages within 30 days after the tenant moves out, and the tenant should give a forwarding address within 4 days of moving.
Do landlords have to pay interest on security deposits?
Only in some states and cities, such as Massachusetts, Connecticut, New Jersey, and several large cities. Where it applies, add the interest to the refund. Enter 0 if your area has no interest rule.
What if the damage costs more than the deposit?
The refund is $0 and the tenant owes the difference. The calculator shows that balance. You can ask the tenant to pay it, or pursue it in small claims court with your itemized list and receipts.
More free rent and lease tools
- Security deposit return letter
- Lease termination letter
- Prorated rent calculator
- Rent increase calculator
Calculators give estimates from the numbers you enter. They are not tax, legal, or accounting advice.