The text of the Commission’s Questions and Answers on: Tenant Security Deposits brochure (English and Spanish versions) has been changed to incorporate recent revisions to the law concerning the return of residential security deposits by landlords to tenants.
The main change relates to the second to the last question concerning the deadline to return the security deposit. While the law still requires a refund and/or accounting for the deposit within thirty days, as explained in the brochure, “where the full amount of damage cannot be determined within 30 days, the landlord or agent may send [the tenant] a written interim accounting of deductions claimed, followed by a final accounting no later than 60 days following the end of the tenancy.” In addition, the brochure now adds in the last question a statutory reference to the Tenant Security Deposit Act: N.C. Gen. Stat. § 42-50 et seq.
New reprints of the free brochure are available and should replace existing inventory. Digital files on the Commission Web site, www.ncrec.gov, are also available.
This article came from the January 2010-Vol40-3 edition of the bulletin.