NC Landlords that collect a security deposit must provide Tenants with a receipt stating the name & address of the financial institution where it’s being held.

North Carolina Security Deposit Regulations

Security Deposits in North Carolina may not exceed the following amounts:

  • 2 month’s rent for Leases longer than two months;
  • 1.5 month’s rent for month-to-month Lease Agreements.

North Carolina Law provides that if a Landlord collects a security deposit, they must, within 30 days of receiving the deposit, provide the Tenant with a written receipt stating the name and address of the financial institution where the security deposit is being held.

The Landlord must either:

  1. Hold the security deposit in a trust account in a licensed financial institution in North Carolina; or
  2. Furnish a bond for the security deposit amount from an insurance company that is licensed in the State of North Carolina.

Customize our North Carolina Security Deposit Receipt in minutes to comply with this state law.