Understanding Missouri Security Deposit Law
Missouri’s security deposit law is critical in the relationship between landlords and tenants. This article sheds light on the crucial aspects of this law, empowering both parties with essential knowledge.
Maximum Security Deposit Limit
In Missouri, landlords cannot request a security deposit exceeding two months’ rent. This rule ensures a fair and reasonable approach toward the initial costs faced by tenants.
Holding of Deposits
Landlords must deposit these funds in a federally insured bank, credit union, or depository institution. Notably, any interest earned from these deposits belongs to the landlord.
Returning the Deposit
Landlords have 30 days after tenancy termination to:
- Return the full security deposit, or
- Provide a written, itemized list of damages with the remaining deposit amount.
Mailing these details to the tenant’s last known address suffices under Missouri security deposit law.
Deductions from the Deposit
Landlords can only deduct reasonable amounts for:
- Unpaid rent,
- Restoration of the unit to its initial state, excluding ordinary wear and tear and,
- Compensation for the tenant’s failure to give adequate notice before terminating the tenancy.
Notably, the landlord must make efforts to minimize these damages.
Inspection Rights
Tenants have the right to be present during the final inspection of the dwelling unit. Landlords must notify tenants in writing or person about the inspection date and time.
Penalties for Withholding the Deposit Wrongfully
If a landlord wrongfully withholds any portion of the security deposit, the tenant will receive twice the amount wrongfully withheld as damages.
Scope of Security Deposit
The term “security deposit” in Missouri includes any money or property given to the landlord to ensure the tenant’s compliance with the rental agreement, excluding pet deposits.
Disclaimer
Qira aims to keep this information as up-to-date as possible. The content provided here is informational and should be different from legal counsel. Please refer to the relevant government sources to check for any changes or updates to the law.
