Delaware Security Deposit Laws

Delaware Security Deposit Limit

A landlord may charge one month’s rent on leases for one year or more (furnished units have no limit); For month-to-month rental agreements there is no legal limit for secuirty deposits. As an alternative, the tenant may provide a surety bond in lieu of or in conjunction with a deposit. An additional amount may be collected for a pet deposit, but must be refundable or applied to pet related damage.

Location Must Be Disclosed: Orally or in writing, landlords must inform tenants where the security deposit is being kept. Usually this would be a financial institution such as a bank or credit union.

Deadline for Returning Security Deposit

A landlord must return the security deposit, along with an itemized statement of deductions, within 20 days after the tenant has moved out. All fees must be refundable.