A landlord who owns more than ten (10) rental units, including units owned by their spouse and children, or who employ a management agent, regardless of the number of units owned, must give the tenant written notice of the location and number of the account in which the security deposit is held. As a substitute for having an escrow account, the landlord may post a $50,000 bond with the superior court clerk of the county in which the rental property is located.
Speak to an Experienced Landlord Tenant Law Attorney Today
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified landlord tenant lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local landlord tenant attorney to discuss your specific legal situation.