North Carolina Bankruptcy Courts
Many rules and regulations apply in North Carolina to protect both landlords and tenants, and most questions can be answered by referring to two important items: The Tenant Security Deposit Act, and the Residential Rental Agreements Act. This article will address the first act, which focuses on the maximum allowable amounts of a security deposit, appropriate uses, allowable deductions by a landlord, and legal limit of time before a tenant can receive a refund once the lease has ended. All landlords and tenants would be wise to be familiar with the important regulations of both acts to protect their interests before signing any residential rental agreement.
Legal Limits of Security Deposits in North Carolina Based on the Tenant Security Deposit Act
The maximum security deposit allowed in North Carolina is based on the lease period of time. By law, the security deposit must be deposited into a separate trust account issued by a North Carolina bank or savings institution or a bond must be furnished by the landlord. This information should be provided to the tenant within 30 days of receiving the deposit.
- For weekly leases: two weeks maximum rent
- For monthly leases: one and one-half month rent
- For leases greater than a year: two months rent
Separate non-refundable pet fees are allowable by landlords, to cover the increase risks to property by having personal pets. Landlords are not required by law to allow pets, and it is an individual option. The separate fee has to be reasonable and nonrefundable, but no official legal limit has been set. One exception to this rule is pets that are considered service animals, for a physical or other significant need of a disabled tenant. The general rule is that a doctor's prescription or other significant proof must be presented to justify the pet's usefulness in this regard (examples include seeing-eye dogs for visually impaired, pets for epileptics trained to predict seizures). If proper proof is presented, the pet fee legally must be waived and the pet allowed to be on the premises.
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