Georgia Security Deposit
SECURITY DEPOSIT (RESIDENTIAL AND COMMERCIAL LEASES)
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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.
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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.
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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.
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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.
