Index
Landlord-Tenant LawMassachusetts, USA

Massachusetts General Laws Chapter 186, Section 15B

Summary

Strictly regulates how security deposits are handled, including mandatory escrow accounts and annual interest payments to tenants.

Rights & Rules

  • 01.
    Right to receive a receipt for the security deposit within 30 days.
  • 02.
    Right to receive annual interest on any security deposit held for more than one year.
  • 03.
    Right to receive a 'Statement of Condition' documenting property damage at the start of the lease.

Penalties

  • 01.
    Treble damages (three times the deposit amount) for failing to place funds in a proper escrow account.
  • 02.
    Immediate return of the full deposit regardless of damages if specific procedures are not followed.

Verified Citations

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