North Carolina Security Deposit Laws

North Carolina Security Deposit Limit

Month-to-month tenancies may be charged up to one and one-half months’ rent for the security deposit. If the term is three months or longer, the equivalent of up to two months’ rent may be collected for the deposit. An additional nonrefundable pet deposit may also be charged as long as it’s reasonable. Whatever amount is collected, the landlord must disclose (within 30 days of the start of the lease) the name and address of the financial institution where the deposit is kept.

Deadline for Returning Security Deposit

After the tenant moves out, the deposit must be returned within 30 days. If for some reason there’s damage requiring additional time, the landlord may provide an initial itemized statement at 30 days and then a final statement with any remaining funds within 60 days.