West Virginia 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
Tenant security deposit West Virginia rules don’t mandate an escrow account to hold tenants’ funds. However, maintaining a separate checking or savings account for security deposits in West Virginia is considered a best practice, as it helps maintain a clear record and make returns easier during the 60-day window.
{{ state }} security deposit
limits
There is no legal maximum security deposit West Virginia landlords can charge. The average security deposit typically ranges from $950 to $1,250. While landlords have flexibility, most stick to one month's rent to stay competitive.
{{ state }} security deposit interest
West Virginia state law security deposit rules do not require landlords to pay a specific security deposit interest rate. Since there is no mandate to use an interest-bearing account, tenants have no legal right to interest on a security deposit in West Virginia unless it is written into the lease.
Go beyond standard security deposit accounts
Collect, return, and track deposits by tenant and
property, even when funds are held in external accounts.
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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
No state limit; 1 to 2 months' rent recommended
No
No escrow account required; Separate savings or checking account recommended
Repairs, lease violations, unpaid rent or utilities, and cleaning costs
60 days
Additional resources
ARTICLE
How to collect security deposits
FAQs
How much security deposit can a landlord charge in West Virginia?
There is no West Virginia security deposit limit. You may decide the amount based on market conditions, though many request a deposit equal to 1 to 2 months’ rent. In some cases, a landlord may ask for first and last month's rent plus a security deposit to secure the lease.
Is interest required on tenant security deposits in West Virginia?
There is no statutory requirement for West Virginia security deposit interest. Landlords are not required to hold funds in a specific landlord-tenant security deposit bank account in West Virginia, and any interest earned is typically retained by the landlord unless the lease agreement states otherwise.
How should I issue a security deposit receipt to tenants in West Virginia?
As per landlord rights security deposit rules, you aren’t required to send a receipt. But it's best practice to send one for record-keeping. Include the date, amount, and rental property address.
How many days to return a security deposit in West Virginia?
Return the tenant's security deposit in West Virginia within 60 days after the tenancy ends. If a new tenant occupies the unit sooner, the deadline is shortened to 45 days from the start of the new occupancy.
What can a landlord deduct from a security deposit in West Virginia?
You can deduct for unpaid rent, utilities, and damage beyond normal wear and tear. If you wrongfully withhold funds, you may be liable for double damages (up to twice the amount withheld) plus attorney fees. These rules apply whether the property is a house rental, apartment, or condo.
Can a security deposit be used for unpaid rent in West Virginia?
Yes. Although state law doesn't require a security deposit escrow account in West Virginia, you can use the deposit to cover any unpaid rent or utilities the tenant owes when they move out.
Can landlords keep a security deposit for breaking a lease in West Virginia?
If you find a tenant breaking lease terms, the landlord's security deposit West Virginia funds can be used to cover the resulting rent loss and the costs of re-renting the unit.
