When you rent a home or apartment in Florida, you are typically required to pay a security deposit to cover potential damages or unpaid rent. However, many tenants don’t realize that landlords are legally required to handle security deposits in a specific way. Understanding where your deposit is being held and what protections exist under Florida law can help ensure you recover your deposit when your lease is over.

At RTRLAW, our real estate attorneys help tenants understand their rights and hold landlords accountable if they fail to follow Florida’s security deposit laws. Here’s what you need to know about where your landlord is supposed to keep your deposit and how to ensure it is returned to you.

What Are The Florida Laws on Security Deposit Holding Requirements?

Under Florida Statute § 83.49, landlords must place security deposits into separate, protected accounts rather than mixing them with their personal or business funds. This law is designed to prevent landlords from spending your deposit before it’s legally due for return.

Landlords Must Choose One of Three Deposit Holding Methods:

1. A Non-Interest-Bearing Separate Account

  • The security deposit is placed into a Florida-based bank account that does not earn interest.
  • The landlord cannot use the funds for personal or business expenses.
  • The tenant is not entitled to any earnings from this type of account.

2. An Interest-Bearing Separate Account

  • The deposit is placed into a Florida-based interest-bearing account.
  • At least 75% of the interest earned must be paid to the tenant annually, or the landlord must give the tenant 5% simple interest per year on the deposit.
  • The funds must remain separate from the landlord’s business accounts.

3. A Surety Bond

  • Instead of placing the deposit in a bank, the landlord may purchase a surety bond from a licensed Florida company.
  • The bond must be equal to the total amount of deposits held and be filed with the clerk of the circuit court in the county where the rental property is located.
  • The landlord is still liable for returning the deposit at the end of the lease.

Does My Landlord Have to Tell Me Where My Deposit is Being Held?

Yes! Florida law requires landlords to disclose where the security deposit is being held within 30 days of receiving it.

This written notice must include:

  • Name and address of the financial institution where the deposit is being held
  • Whether deposit is in an interest-bearing or non-interest-bearing account
  • If it is an interest-bearing account, the percentage of interest the tenant will receive
  • If the deposit is protected by a surety bond, details about the bond and the bonding company

If your landlord fails to provide this notice, it could be a red flag that they are not handling your deposit properly, which may affect your ability to recover it upon moving out.

What Happens if My Landlord Mishandles My Deposit?

Unfortunately, some landlords ignore Florida’s legal requirements and place deposits in personal accounts, fail to notify tenants of the deposit’s location, or even spend the money before the lease ends. This can lead to major issues when you try to recover your deposit.

If you suspect your landlord has violated Florida’s deposit laws, you may have legal options to:

  • Recover your full deposit, even if the landlord attempts to withhold part of it.
  • Sue for additional damages if the landlord acted fraudulently.
  • Ensure your landlord is held accountable for legal violations.

At RTRLAW, we help tenants fight back against landlords who mishandle security deposits. If you’re concerned about where your deposit is being held, our attorneys can investigate and take any necessary legal action.

What Should I Do If My Landlord Won’t Tell Me Where My Deposit Is?

If your landlord has not provided the required notice of where your deposit is being held, take the following steps:

1. Request the Information in Writing

Send a formal written request via certified mail asking where your deposit is being kept. Keep a copy of the request for your records.

2. Document Your Lease Agreement

Review your lease to see if any information about the security deposit location is included. If the landlord has failed to comply with their obligations, this can support your case.

3. Consult an Attorney

If your landlord refuses to provide the required information or you suspect they are misusing your deposit, seek legal help immediately. RTRLAW’s experienced attorneys can investigate your claim and take the necessary legal steps to protect your rights.

Don’t Let Your Landlord Take Advantage of You—Take Legal Action Today!

If your landlord has failed to disclose where your security deposit is being held, wrongfully withheld your money, or violated Florida’s rental laws, you don’t have to fight this battle alone. RTRLAW’s experienced attorneys are ready to help tenants recover their deposits and hold their landlords accountable.

We provide aggressive legal representation to ensure your rights are protected. Our services include:

  • Investigating Your Landlord: We can request financial records, lease agreements, and other key documents to determine if your landlord has mishandled your deposit.
  • Sending Legal Demand Letters: Our attorneys can formally demand that your landlord return your deposit or disclose its location, applying legal pressure for compliance.
  • Filing a Lawsuit: If necessary, we can take your landlord to court to recover your security deposit, as well as any additional damages and attorney’s fees that may apply under Florida law.
  • Contingency-Based Representation: You don’t pay anything upfront—we only get paid if we successfully recover your deposit.

Florida law is clear; landlords must handle security deposits properly and provide written notice if they plan to withhold any portion. If your landlord fails to return your deposit or does not send a written explanation within 30 days, you may be legally entitled to a full refund, and RTRLAW is here to help make sure you get it.

Don’t let your landlord ignore the law or unfairly keep what is rightfully yours. Contact RTRLAW today for a free consultation at 1-833-HIRE-RTR or visit our website to learn how we can help you take action, protect your rights, and recover your security deposit.