Missouri 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.
{{ state }} security deposit account
You are not legally required to use an escrow account for a tenant security deposit Missouri renters pay you. But, to protect yourself from commingling funds, you might consider opening a designated security deposit bank account in Missouri.
{{ state }} security deposit
limits
The maximum security deposit Missouri law allows is two months' rent. Because the average security deposit in many Missouri cities ranges between one and two months' rent, depending on the property type, you have significant room to protect your investment while staying competitive in the local market.
{{ state }} security deposit interest
The security deposit interest rate is not regulated under state law security deposit rules. So, you aren’t obligated to pay interest on security deposit Missouri funds.
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
Hold each security deposit in separate non-interest or interest-bearing accounts that earn up to [v="apyvalue"] APY².
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
2 months' rent
No
No escrow account required; still a good practice to hold funds in a separate account
Unpaid rent, repairs, lease violations, and cleaning costs
30 days
Additional resources
ARTICLE
How to collect security deposits
FAQs
How much security deposit can a landlord charge in Missouri?
Missouri security deposit limit is capped at 2 months’ rent. Unlike many states where you can charge first and last month's rent plus the security deposit, Missouri rules allow you to charge first month’s rent and security deposit, but not the last month’s.
Is interest required on tenant security deposits in Missouri?
No, Missouri security deposit interest isn’t required, as you’re legally mandated to keep these funds in an interest-bearing account. But if you keep them in an interest-bearing landlord-tenant security deposit bank account, Missouri law clarifies that the money legally belongs to you, not the tenant.
How should I issue a security deposit receipt to tenants in Missouri?
In Missouri, you don't have to give tenants a receipt for their security deposit. However, it's a good idea for documentation, as it can help prevent disputes. If you do share a receipt, include the amount and date of payment, and the property address.
How many days to return a security deposit in Missouri?
Once a lease ends, you have 30 days to return the tenant's security deposit Missouri funds either in full or share an itemized list of deductions if you claim them.
What can a landlord deduct from a security deposit in Missouri?
As per landlord rights security deposit rules, you can make deductions for unpaid rent, physical damage that goes beyond normal wear and tear, or costs to restore the unit to its original condition. These rules apply to any property, whether it’s a house rental, apartment, or condo. If you fail to return the deposit within a 30-day window or withhold funds without cause, you may be liable for double damages, meaning they could have to pay the tenant twice the amount wrongfully withheld.
Can a security deposit be used for unpaid rent in Missouri?
Yes, you can use the deposit to cover a tenant's default in rent payments. However, the tenant cannot choose to skip their last month of rent by telling the landlord to just "keep the deposit."
Can landlords keep a security deposit for breaking a lease in Missouri?
If a tenant is breaking lease terms early, a landlord's security deposit in Missouri can be used to cover the resulting financial losses, such as lost rent or the costs of re-advertising the unit.
