Florida security deposit account for landlords
Easily collect and manage deposits for every property with dedicated security deposit accounts.
Why use a security deposit account in {{ state }}
Security deposit funds are instantly separated, making move-in, move-out, and returns completely clear.
Benefits for property
owners
Repair and maintenance
Covers property damage such as paint, carpet, or floor damage, including costs caused by pets.
Fund separation
Meet state requirements for holding deposits in a dedicated tenant security deposit account.
Streamlined returns
Simplifies refunding tenants while accounting for deductions like cleaning or unpaid utilities.
Benefits for tenants
Fair protection
Funds are protected from misuse, covering only actual repair costs like cleaning, carpet replacement, or floor damage.
Transparency on deductions
Tenants can clearly see allowable charges, protecting against unfair claims on normal wear and tear.
Savings potential
Deposits may be held in a tenant security deposit account or rental deposit account that earns security deposit interest, helping tenants recover more than they put in.
Baselane accounts cannot hold security deposits in states requiring escrow or state-based accounts, but can be used to collect, track, and securely transfer deposits to compliant external accounts.
{{ state }} security deposit account
A tenant deposit in Florida must be deposited into a separate bank account (can be interest or non-interest-bearing) with a Florida-based financial institution, or the landlord may post a surety bond for the amount of the deposit.
{{ state }} security deposit
limits
There is no statutory maximum security deposit Florida landlords can charge. A best practice is to collect the national average security deposit equivalent of 1 to 2 months’ rent.
{{ state }} security deposit interest
The state law security deposit rules require interest on security deposits in Florida only if landlords keep the funds in an interest-bearing bank account at either 5% simple interest or at least 75% of the annualized average interest rate. The security deposit interest rate is zero if the landlord uses a non-interest-bearing account.
Go beyond standard security deposit accounts
Collect, return, and track deposits by tenant and
property, even when funds are held in external accounts.
{{ state }} security deposit accounts
Keep every deposit organized and accounted for with secure transfers to [State] security deposit accounts.
Unlimited accounts for all entities
Manage deposits for all entities under one login — LLCs, corporations, partnerships, and individuals.
Free online payments
Collect rent and deposits online for free and easily return deposits via ACH, wire, or check.
Automated bookkeeping
Track and tag payments to the right tenant and property — automatically.
Essentials for every door
Everything you need for every part of the rental process.
Lease creation and e-sign
Upload or create and e-sign state-specific leases online.
Free tenant screening
Screen tenants online for free — instantly verify credit, background, evictions, ID, and income.
Property-specific accounts
Open unlimited checking and savings accounts to easily separate funds for all your properties with no monthly maintenance fees.
{{ state }} security deposit rules
No statutory limit, but 1 or 2 months’ rent recommended
Yes, if kept in an interest-bearing bank account
Escrow account (can be interest or non-interest-bearing) with a Florida-based financial institution, or post a surety bond for the deposit amount. Inform the tenant about the name and location of the security deposit bank account in Florida.
Unpaid rent or utilities, repairs, lease violations, and cleaning costs
15 days if no deductions claimed, (30 days if deductions are made)
Additional resources
ARTICLE
How to collect security deposits
FAQs
How much security deposit can a landlord charge in Florida?
There is no legal cap on the Florida security deposit limit. Landlords can charge one to two months’ rent as a deposit along with first and last month's rent.
Is interest required on Florida landlord security deposits?
No, Florida security deposit interest is not legally required if the landlord uses a non-interest-bearing account. But, if the landlord chooses an interest-bearing account, they must pay the tenant interest at either 75% of the annual average rate or 5% simple interest. This deposit must be held in a landlord tenant security deposit bank account in Florida.
How should I issue a security deposit receipt to tenants in Florida?
Within 30 days of getting the deposit, the landlord must give the tenant a written notice stating the name and address of the financial institution where the money is held and whether the tenant will receive interest. It should be sent in person or by mail/email.
How many days to return the security deposit in Florida?
Tenant security deposit Florida rules state that the landlord has 15 days once the lease ends to return the full deposit, if no deductions are made. If deductions are made, the landlord has 30 days to send a written notice detailing those claims and the remaining deposit, if any.
What can a landlord deduct from a security deposit in Florida?
State law clearly outlines the landlord's right to security deposit deductions. The landlord can use the tenant’s security deposit to cover damage to the rental property (such as a house rental, apartment, or condo) beyond normal wear and tear, such as floor damage. Landlords who wrongly keep funds may face charges for double damages.
Can a security deposit be used for unpaid rent in Florida?
Yes, landlords can use the funds from the security deposit escrow account in Florida to cover unpaid rent owed by the tenant.
Can a landlord keep a security deposit for breaking a lease in Florida?
Yes, the landlord security deposit in Florida can be used to cover any loss in case the tenant breaks a lease early. Landlords often use the funds to cover the rent until a new tenant is found, as the existing tenant remains responsible for rent payments until the property is re-rented.
