The state of Wyoming does not limit application fees or security deposit amounts that property owners can collect, and even enables property owners in the state to collect an additional security deposit for utility fees. Property owners in the state of Wyoming are also allowed to collect the pet deposit fee provided that the animal in question is not a service animal period to learn more about security deposit regulations in the state of Wyoming, 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?
There is no limit on the application fee amount in the state of Wyoming. Application fees are non-refundable.
What is the security deposit amount the landlord can collect?
According to legislation in the state of Wyoming, property owners can request a security deposit of any amount to protect their property in the event of damages or unpaid rent. It is common to collect one to two months’ rent as a security deposit in the state of Wyoming. Property owners in the state of Wyoming may also collect a separate utility deposit to cover utility bills that are the responsibility of the residents.
Can the property manager/owner collect a fee for pets?
Yes. Property owners in Wyoming can collect a pet deposit 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?
The state of Wyoming does not outline how the security deposit must be held.
Is the property manager/owner required to tell the resident where the deposit is held?
No. Property owners are not required to tell residents where the security deposit is 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 Wyoming do not have to provide interest to residents on the security deposit amount held.
What can the property manager/owner deduct from the security deposit?
Property owners operating in the state of Wyoming May use the security deposit in order to deduct unpaid rent, damages beyond wear and tear, damages caused by the residents failure to comply with their obligations, cleaning costs, or other costs, as long as they are listed in the lease agreement.
How long does the property manager/owner have to return the security deposit after the lease has ended?
Property owners in the state of Wyoming have 30 days from the lease termination in order to return the security deposit, Or 15 days from when they received the tenants forwarding address, the leader of the two.
What penalties does the property manager/owner face if they do not return the security deposit on time?
Property owners operating in the state of Wyoming that do not return the security deposit, or its remainder, as required within 30 days from termination of lease or 15 days from receipt of the residents forwarding address, the later of the two, my be fined the full Security deposit amount and legal fees incurred by the resident in order to recover the security deposit in court. Utility deposits must be returned within 10 days of receiving proof of utility payment. If a resident vacates the unit then does not provide the property owner with proof of up-to-date utilities within 45 days of vacating the property, the property owner may apply the utility deposit to outstanding debt within 15 days, beginning after the 45 day period.
What is the process for the property manager/owner to claim the security deposit funds?
Property owners in the state of Wyoming that want to clean the security deposit, or portion of it, must hand deliver an itemized list of damages incurred to the property, or mail it to the vacating residence forwarding address within 30 days, or 15 days from receipt of the vacating residents forwarding address.
Is the resident allowed to apply their security deposit towards the last month’s rent?
Residents in the state of Wyoming may apply their security deposit towards the last months rent only if the property owner agrees to it and it is listed in the lease period.
To summarize, property owners in the state of Wyoming do not have a maximum limit on how much security deposit they can collect. Property owners can use the security deposit in order to cover unpaid rent, cleaning costs, costs of damages beyond wear and tear, or other reasons, so long as they are listed in the lease. Property owners can also collect a separate deposit for utility bills. In order to ensure they are not subject to fines and legal action, property owners in the state of Wyoming must keep accurate records of damages incurred to their property.
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.
