How to track security deposits per property, with return deadlines by state
Track every deposit with five facts: tenant, unit, amount, date received and where the money is held. Keep each property's deposits in that property's own books and, where your state requires or advises it, in a separate account. Then put the return deadline on a calendar the day the tenant gives notice, because the clock usually starts when the tenant leaves.
What a deposit ledger needs
A deposit ledger is one row per deposit. Each row needs the tenant, the unit, the amount, the date received, the account holding it and, once the tenant leaves, the move-out date, the deductions and the refund. The total of the ledger must equal the deposit liability on your balance sheet and, where the law requires a separate account, the balance in that account. If those three figures differ, you have a problem to fix this month, not at move-out.
A deposit you may have to return is money you owe, not income. Our post on security deposit accounting shows how it sits in the books.
Where the money should sit
States differ on where deposits must be held. Florida requires the landlord to hold the money in a separate account in a Florida financial institution for the benefit of the tenant, with interest in some cases, or to post a surety bond, and not to commingle it with other funds (Fla. Stat. 83.49(1)). Many other states have no separate account rule. Even where it is not required, one bank account per property, held in the name of the LLC that owns it, keeps each building's deposits clean and makes a sale simple, because the deposits move to the buyer with an accurate list.
Florida also requires deposits to be transferred, with an accounting for each tenant, when the property changes hands (Fla. Stat. 83.49(7)). Keep that in mind when you buy or sell.
Return deadlines in four states
| State | Deadline | Statute |
|---|---|---|
| Texas | Refund on or before the 30th day after the tenant surrenders the premises | Tex. Prop. Code 92.103 |
| Florida | Return within 15 days if you make no claim; if you claim any of it, send written notice of the claim within 30 days (the statute sets how it must be delivered) | Fla. Stat. 83.49(3)(a) |
| Virginia | Written notice of the disposition within 45 days after the tenancy ends or the tenant leaves, whichever is later | Va. Code 55.1-1226 |
| Ohio | Itemized written notice of deductions, with the amount due, within 30 days after the tenancy ends and possession is delivered | Ohio Rev. Code 5321.16(B) |
Sources are linked below. Deadlines have details: forwarding address rules, what counts as the start date and penalties for missing them. Read your state's statute, and see our state-by-state post.
Miss the deadline and many states let the tenant recover more than the deposit. Ohio, for example, allows damages equal to the amount wrongly withheld plus attorney's fees if the landlord does not follow the notice rule (Ohio Rev. Code 5321.16).
Example a made-up Texas tenant surrenders the unit on March 3. The 30th day after surrender is April 2, so the refund and itemization should go out by April 2. The owner puts April 2 on the calendar on March 3, and a reminder for March 20. A made-up Florida tenant also leaves on March 3. With no claim, the whole deposit goes back by March 18 (15 days). With a $200 damage claim, the written notice of the claim must go out by April 2 (30 days), delivered the way the statute requires.
A routine that never misses a deadline
- Record the deposit the day it arrives, with the tenant and unit.
- When a tenant gives notice, enter the move-out date and calculate the return date for your state.
- Do the move-out inspection and compare it with the move-in condition report.
- List deductions with invoices or estimates. Only real, documented costs belong.
- Send the refund and the itemized list by the deadline, to the address the tenant gave you.
- Mark the ledger row closed, and move the money out of the deposit account in the same step.
How DoorKeeping handles it
In DoorKeeping, each property is its own set of books with its own deposits held, so the deposit liability for one building never mixes with another's. The deposit is tracked per tenant and unit. You can ask Claude or ChatGPT "which deposits are due back this month?" and get the list. Refunds and deductions that involve money wait for your one-tap approval. Rent and payments stay in your own bank accounts. DoorKeeping never holds your money and sends a payment only when you approve it. It costs $2 per unit a month, every feature included, no setup and no minimum. DoorKeeping gives no legal advice; check your state.
Sources
- Texas Property Code, section 92.103, Obligation to Refund, read Oct 30, 2026
- Florida Statutes, section 83.49, Deposit money or advance rent; duty of landlord and tenant, read Oct 30, 2026
- Code of Virginia, section 55.1-1226, Security deposits, read Oct 30, 2026
- Ohio Revised Code, section 5321.16, Security deposits, read Oct 30, 2026
Questions
- How long do I have to return a security deposit?
- It depends on the state. Texas is 30 days after the tenant surrenders the premises, Florida is 15 days without a claim and 30 days to notify of a claim, Virginia is 45 days and Ohio is 30 days.
- Does a security deposit have to be in a separate bank account?
- Some states require it, such as Florida. Where it is not required, a separate account per property is still a good practice.
- What happens to deposits when I sell a building?
- They are generally transferred to the buyer with a list of each tenant's deposit. Florida requires an accurate accounting at transfer.