Industry Insights4 min read
Rhode Island Security Deposit Law
Kasee Godwin
This guide summarizes the key security deposit rules property managers should know in Rhode Island: how much you can collect, how quickly you must refund, whether you need to disclose where the deposit is held, and whether interest is required.
At a glance
- Recent legislation: No major recent changes
- Deposit cap: 1 month
- Refund time frame: 20 days
- Must disclose deposit location: Yes
- Interest required on deposits: No
What property managers should do
- Document the unit's condition with photos at move-in and move-out
- Provide an itemized statement of any deductions within the statutory window
- Keep deposit funds in a compliant account and maintain a clear audit trail
- Use a deposit management platform like Qira to automate timelines, disclosures, and refunds
How Qira helps
Qira automates security deposit collection, escrow, itemization, and refunds — keeping you on the right side of state-specific timelines and disclosure rules, and giving residents a flexible move-in experience with installment plans or a zero-deposit option.
Note: This page shows a short summary of the original article. To get the full piece, please contact Qira.
Originally published at qira.com.
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