Massachusetts security deposit law

The rule

Deposit limit

1 month’s rent

Return deadline

30 days

Interest owed

Required

Itemized deductions

Required

The limit

At move-in, a landlord may collect only first and last month’s rent, a deposit of up to one month’s rent, and the cost of a new lock and key.

The deadline

30 days after the tenancy ends.

Interest

5% a year, or the lower rate the bank actually pays, paid yearly for deposits held a year or more. The deposit must be kept in a separate Massachusetts bank account.

Deductions

The landlord must give you an itemized list of anything kept from the deposit.

If it isn’t returned

Violations (e.g., late return or no separate account): 3 times the amount owed plus 5% interest, costs and attorney’s fees (§ 15B(7)).