Florida Security Deposit Rules: What Miami-Dade Landlords Need to Get Right
Security deposit fights in Florida usually come down to deadlines and paperwork, not the damage itself. If you rent out a condo in Miami Beach, a house in Pinecrest, or a townhome in Coconut Grove, here is how Florida's deposit law works in plain terms and where owners usually trip up. This is general information, not legal advice, so check your situation with a Florida attorney.
Where the law comes from
Florida's rules on security deposits and advance rent are in section 83.49 of the Florida Statutes. They apply to residential rentals across the state, so the same deadlines apply in Coral Gables, Miami Beach, and anywhere else in Miami-Dade.
How much you can collect
Florida does not set a state cap on the size of a security deposit. In the Miami market, one to two months' rent is common, and condo associations may have their own move-in deposits on top of yours. Whatever you charge, put the amount and its purpose in the lease in writing.
How you have to hold the money
This is the part many small landlords skip. Under 83.49, you can't simply drop the deposit into your everyday account. You have three options:
Keep it in a separate non-interest-bearing account at a Florida bank, not mixed with your own money.
Keep it in a separate interest-bearing account at a Florida bank, and pay the tenant interest (at least 75% of the account's annualized rate, or 5% simple interest per year, your choice).
Post a surety bond with the clerk of the circuit court, and pay the tenant 5% simple interest per year.
Whichever you pick, you can't use, pledge, or borrow against the deposit until money is actually owed to you.
The written notice at move-in
Landlords with five or more units must tell the tenant in writing, in the lease or within 30 days of receiving the deposit, where the money is held, whether the tenant earns interest, and include the specific disclosure language set out in the statute. Even if you own fewer than five units, giving this notice is a good habit and makes your records cleaner if there's ever a dispute.
The move-out deadlines: 15 days and 30 days
When the tenant moves out and the lease ends, the clock starts:
No deductions: return the full deposit (plus any interest owed) within 15 days.
Deductions: within 30 days, send written notice of your intent to make a claim by certified mail to the tenant's last known address (or by e-mail if the tenant agreed to e-mail notices), stating the amount and the reason. The statute provides the wording to use.
The tenant then has 15 days after receiving your notice to object in writing. If they don't, you can deduct your claim and must send the balance within 30 days of your notice.
Miss the 30-day notice and you lose the right to take anything from the deposit. You'd have to return it in full and sue separately for damages, which is slow and rarely worth it for a small claim.
Mistakes that cost Miami owners
Mixing the deposit with your operating or personal account.
Sending the claim notice by regular mail or text instead of certified mail.
Vague claims like "cleaning and repairs" with no amounts.
Deducting for normal wear and tear, such as faded paint or light carpet wear, rather than actual damage.
Skipping move-in photos, which leaves you with no proof of the unit's condition.
Forgetting to transfer deposits to the new owner or manager when you sell or switch management companies.
If either side goes to court over the deposit, the winner is generally entitled to court costs and reasonable attorney fees, so sloppy paperwork can turn a $400 deduction into a much bigger bill.
Tools that keep this organized
A dated move-in checklist with photos, a separate deposit account, and a simple ledger solve most problems. Good screening up front also means fewer damage claims at the end; our guide to tenant screening in Miami-Dade covers what to check. If you self-manage, we list rent collection, bookkeeping, and screening tools South Florida landlords use on our Tools page.
Disclosure: some links on our Tools page are affiliate links, which means we may earn a commission at no extra cost to you.
Frequently asked questions
How long does a Florida landlord have to return a security deposit?
15 days after the lease ends if there are no deductions. If the landlord plans to keep part of it, they must send a written claim notice within 30 days, by certified mail or by e-mail if the tenant agreed to e-mail notices.
Can I keep the deposit if the tenant doesn't respond to my claim?
If the tenant doesn't object in writing within 15 days of receiving your notice, you can deduct the claimed amount and must return any balance within 30 days of the notice date.
Does a property manager handle deposits for me?
A licensed manager typically holds deposits in a proper account and handles move-out inspections and notices. It's one of the reasons owners compare management fees; see our Miami-Dade property management cost guide.
Want someone else to handle the paperwork?
Deposit rules are just one piece of renting a property in South Florida correctly. If you'd rather not track deadlines and certified mail yourself, Camisi Property Partners can connect you with a trusted local management team. Take a look at our services or reach out here, and tell us about your property.
