Yes, landlords can collect an additional pet deposit in Georgia, except for service dogs and emotional support animals. In Georgia, the definition of “security deposit” includes other refundable deposits, like a pet deposit. If a landlord collects a pet deposit, it must be treated according to the same rules as a security deposit. [1]
There is no limit on the amount of rent that can be collected upfront in Georgia. Many states have a limit on the amount of rent that can be collected at once, but Georgia does not.
Rental units are exempt [5] from these responsibilities if all of the following are true:
In Atlanta, there are additional responsibilities [6] if the following are true:
In this case, the Atlanta landlord must provide these two options [7] to the tenant in writing in lieu of paying the security deposit in one upfront payment:
Check your local laws to determine if there are additional security deposit rules in your area.
While landlords in Georgia must inform the tenants in writing if the security deposit is placed in an escrow account, an additional receipt of the deposit is not required to be provided.
In Georgia, landlords must provide the tenant with a comprehensive list of the existing damage to the rental unit (if any). The tenant must have the opportunity to inspect the unit [8] and either:
However, there are some exemptions to this responsibility when the landlord is an individual and they, together with their immediate family, own ten or fewer rental units. [9]
Landlords in Georgia must hold security deposits in one of two places: an escrow account or by posting a surety bond.
Option 1: Escrow Account. The landlord may place the security deposit in a state or federally-regulated account. The account must only be used for security deposits. [10]
Option 2: Surety Bond. The landlord may post a surety bond issued by a company authorized to do business in Georgia and posted with the clerk of the Superior Court in the county where the property is located. [11] The amount of the bond must be the total amount of all security deposits held by the landlord or $50,000, whichever is less. [12]
Exemption: The landlord is an individual (not a corporation, partnership, etc.) and they own ten or fewer rental units, together with their immediate family. In that case, they are exempt from this rule unless they hire a company to manage the units and/or collect rent. [13]
Landlords in Georgia do not owe interest on security deposits. If the landlord holds the security deposit in an account that gains interest, they may choose whether or not to credit the tenant.
Security deposits are not considered taxable income when they are collected.
There is no state statute for the treatment of security deposits after the sale of a property. However, the security deposit belongs to the tenant and must be returned to them at the end of the lease term if no deductions can be made.
“Security deposit” means money or any other form of security…and shall include, but not be limited to, damage deposits, advance rent deposits, and pet deposits.
Prior to tendering a security deposit, the tenant shall be presented with a comprehensive list of any existing damage…The tenant shall have the right to inspect the premises…
…whenever a security deposit is held by a landlord or such landlord’s agent on behalf of a tenant, such security deposit shall be deposited in an escrow account…
As an alternative to the requirement that security deposits be placed in escrow as provided in Code Section 44-7-31, the landlord may post and maintain an effective surety bond…
…shall not apply to rental units which are owned by a natural person…collectively own ten or fewer rental units…this exemption does not apply to units for which management, including rent collection, is performed…
…landlords who own and/or control more than ten rental units and require a security deposit more than 60 percent of the monthly rental rate…shall not apply to a deposit placed with a landlord to secure the availability of a rental unit more than 60 days prior to the commencement of the rental period.
…in lieu of the required security deposit…Rental security insurance…Payment of the security deposit over a series of no less than three equal monthly installment payments…
The landlord and the tenant shall sign the list…If the tenant refuses to sign the list, the tenant shall state specifically in writing the items on such list to which he or she dissents and shall sign such statement of dissent.
…shall not apply to rental units which are owned by a natural person…collectively own ten or fewer rental units…this exemption does not apply to units for which management, including rent collection, is performed…
…such security deposit shall be deposited in an escrow account established only for that purpose in any bank or lending institution subject to regulation by this state or any agency of the United States government.
…the landlord may post and maintain an effective surety bond with the clerk of the superior court in the county in which the dwelling unit is located.
The amount of the bond shall be the total amount of the security deposits which the landlord holds on behalf of the tenants or $50,000.00, whichever is less.
…shall not apply to rental units which are owned by a natural person…collectively own ten or fewer rental units…this exemption does not apply to units for which management, including rent collection, is performed…
No landlord shall demand or receive a security deposit in an amount that exceeds the equivalent of two months’ rent.