Massachusetts Renter’s Security Deposit Law

As a landlord, what am I allowed to do with a renter’s security deposit before they need it back? Am I able to reinvest it into my property? In a word—no. In two words, ABSOLUTELY NOT. Massachusetts tenancy laws are very favorable to residential tenants. This is understandable, as such tenants have their home to lose, but it can lead to frustrating situations when a tenant is uncooperative, remiss in paying rent, or blatantly disrespectful to the property and its furnishings. The law in Massachusetts allows landlords to collect ONLY ONE MONTH security deposit and the last month’s rent. You cannot collect more in any way directly or indirectly. They cannot prepay rent either. These monies must be kept in a separate, interest-bearing account, with all the relevant details of the bank and the account provided to the tenant within thirty days of move-in. We usually put that language right

Read More »
Top