1. In Georgia, What Are the Relevant Statutes and Regulations for Residential and Commercial Transactions?
The statutes and regulations of residential transactions are written in Ga. Code Ann. §§ 44-7-30 through 44-7-37. There are no provisions for commercial transactions. This article discusses nonrefundable fees, residential rental agreements, and security deposits. A nonrefundable fee is any amount paid to a landlord by a tenant that had been previously agreed upon to be non-refundable within the stipulations of a residential rental agreement. A residential rental agreement refers to contract, lease, or license agreement for the rental of a property for residential purposes. This provision defines security deposit as a deposit given after July 1, 1976, from a tenant to a landlord, which the landlord holds for the tenant.
2. Are There Statutes That Discuss Any Limitations on Security Deposit Amounts in Georgia?
No, there are no statutes that discuss the limitations on security deposit amounts.
3. What Are the Time Limitations for Return of Security Deposit?
According to GA law, the landlord has 30 days or a month to return the security deposit of the tenant, after the tenant has obtained repossession of the property.
4. What Do Tenant Recovery Rights Consist of in Georgia?
Georgia law states that if a landlord fails to return the security deposit, the tenant must receive three times the sum withheld, with the addition of attorney’s fees.