South Carolina is one of the states it does not have any regulation regarding how much security deposit property owners can collect. However, it is commonplace for property owners to collect one to two months rent, and an additional pet security deposit, Provided that the pet is not a service animal. To learn more about the security deposit regulations for rental properties in the state of South Carolina, continue reading below.
Is there a limit on how much the property manager/owner can charge for an application fee? If so, what is that amount?
No, there is no limit on the application fee amount in the state of South Carolina.
What is the security deposit amount the landlord can collect?
There is no limit as to how much a property owner can charge renters for the security deposit in the state of South Carolina as long as the amount is listed in the lease agreement. It is commonplace for property owners in South Carolina to collect one to two months’ rent as a security deposit. Individual counties within South Carolina may have separate regulations regarding security deposit limits.
Can the property manager/owner collect a fee for pets?
Yes, property owners in the state of South Carolina can collect a pet deposit fee separate from the apartment security deposit. Service pets are an exemption, and disabled persons with service pets do not have to pay an additional security deposit. However, if a service dog causes damages, the resident is still liable for expenses incurred.
How does the security deposit need to be held?
There is no regulation in the state of South Carolina regarding how property owners must hold the security deposit.
Is the property manager/owner required to tell the resident where the deposit is held?
No. Property owners in the state of South Carolina are not required to tell residents where their security deposit is being held.
Is the property manager/owner required to tell the resident what the interest rate on the account is (if applicable)?
No. Property owners in the state of South Carolina are not required to tell residents what the interest rate on the account is.
What can the property manager/owner deduct from the security deposit?
Property owners operating in the state of South Carolina may keep a portion of security deposit to cover unpaid rent, or damages beyond standard wear and care.
How long does the property manager/owner have to return the security deposit after the lease has ended?
Property owners renting out properties in the state of South Carolina must return the security deposit, or its remainder after additional costs have been incurred, if applicable, within 30 days.
What penalties does the property manager/owner face if they do not return the security deposit on time?
Property owners in the state of South Carolina that do not return the security deposit or its remainder, and provide itemized descriptions of the damages and repair costs to renter within 30 days may be fined triple the withheld balance plus legal fees incurred by the tenant to recover the security deposit. Vacating residents may also sue the property owner in small claims court for up to $7,500.
What is the process for the property manager/owner to claim the security deposit funds?
Property owners in the state of South Carolina that want to claim the security deposit or portion of it must provide the vacating resident with an itemized list of damages deducted in writing Within the allotted time frame. It is the responsibility of the vacating resident to provide the property owner with a forwarding address, in writing, to which the itemized list of damages deducted and the security deposit remainder will be sent. If the vacating resident does not provide that information, the property owner may mail the security deposit remainder and itemized list of deductions to the last known address and will not be held responsible for non-receipt.
Is the resident allowed to apply their security deposit towards the last month’s rent?
Residents may apply their security deposit towards the last months rent in the state of South Carolina only if the property owner and the resident agree to it in writing in the lease agreement.
To summarize, South Carolina regulations regarding how and when the security deposit must be returned are relatively straightforward. Property owners should keep an accurate and itemized list of damages deducted to their property, and provide that information in writing to vacating residence within 30 days of lease termination.
Disclaimer & Sources:
Qira aims to keep this information as up-to-date as possible. The content provided here is for informational purposes and should not replace legal counsel. Please refer to the relevant government sources to check for any changes or updates to the law.
