Source: https://ipropertymanagement.com/laws/wisconsin-security-deposit-2
Timestamp: 2020-02-26 14:31:52
Document Index: 548193359

Matched Legal Cases: ['§ 1', '§ 1', '§ 1', '§ 1', '§ 1', '§ 1']

Wisconsin Security Deposit Law: Rules on Refunds, Interest & Limits
Generally, a security deposit is relevant when landlords and tenants are entering a lease agreement. Both landlords and tenants should know Wyoming’s security deposit law that governs the landlord-tenant relationship. The state’s security deposit law lends specific protections to both landlords and tenants.
Duration for Return: 30 days after end of lease, or within 15 days of receiving mailing address
Penalty for Late Returns: Landlord will pay the full deposit, plus any court costs
Security Deposit Maximum in Wyoming
The state of Wyoming has no established maximum amount that a landlord can charge a tenant for a security deposit.
Notice of Non-refundable Deposit
A lease agreement should specify whether any portion of a tenant’s security deposit is nonrefundable. A written notice of this fact should be provided to the tenant at the time the deposit is accepted by the landlord/agent (WY Stat § 1-21-1207).
A landlord must provide a tenant with the balance of any deposit and prepaid rent, along with a written itemization of any deductions and the reason for each deduction within 30 days after the termination of the rental agreement or within 15 days after receipt of the tenant’s new mailing address, whichever is later. The refunded deposit and written accounting must be delivered or mailed to the tenant.
Property Damage: If there is damage to the rental unit, this period must be extended by 30 days. The tenant must notify the landlord within thirty(30) days of termination of the rental agreement of the location where payment and notice may be made or mailed (WY Stat § 1-21-1208(a)).
Utilities Deposit: After the termination of the rental agreement, property or money held by the landlord and separately identified as a utilities deposit must be refunded to the tenant within 10 days of a satisfactory evidence shows that the tenant has paid all utility charges. If evidence isn’t provided within 45 days of termination, the landlord may apply the utilities deposit to the outstanding utility balance owed by the tenant after 15 days. Seven(7) days after the utility deposit has been applied to the tenant’s utility balance, the landlord must provide the tenant with any refund due, or within 15 days after the landlord has received the tenant’s new mailing address, whichever is later (WY Stat § 1-21-1208(b)).
Landlords can keep all, or a portion of a tenant’s security deposit to cover the following deductions (WY Stat § 1-21-1208(a)):
Damages to the rental unit beyond reasonable wear and tear
Cleaning costs as agreed under rental agreement
Failure to Comply With Refund Requirements
If a landlord/agent unreasonably fails to comply with the refund requirements, the tenant may recover the full deposit, plus court costs. If in a court action brought by a tenant, the landlord wins the case on the basis that the court finds that the landlord acted unreasonably by suing, the landlord may be awarded court costs, plus additional damages (WY Stat § 1-21-1208(c)).
If a rental property changes ownership, a Wyoming landlord must either:
Tips for Wyoming Landlords on the Right Practices for Security Deposits
Provide tenants with an itemized list of deductions and the reason for each
Return security deposits within 30 days after the termination of the rental agreement or within 15 days after receipt of the tenant’s new mailing address, whichever is later
Withhold security deposits for unpaid rent, damages to the rental unit, cleaning costs and other costs provided by any contract
It’s beneficial for both landlords and tenants to know and understand Wyoming’s security deposit law. Landlords are required to remain in compliance with the state’s security deposit law. Tenants have a duty to adhere to their lease obligations, and in so doing, can get a refund of their security deposit at the end of their lease term. Wyoming security deposit statutes can be found in WY Stat § 1-21-1207 and 1-21-1208.