A security deposit protects the host if the tenant violates terms of the lease and is used to pay for any damages to the property, cleanings, key replacements, or unpaid rent.
After a tenant moves out, a host has a specific number of days to:
- Return the tenant's deposit, or
- Mail or personally give to the tenant:
- a written letter explaining why he or she is keeping all or part of the deposit
- an itemized list of each of the deductions
- any remaining refund of the tenant’s deposit, and copies of receipts for the charges/deductions