What is the landlord required to do with the security deposit?
Under Georgia law, a landlord who owns morethan ten (10) rental units, including units
owned by their spouse and/or children, or who empoys a management agent is required to place
the security deposit in a bank escrow account, used only for security deposit funds. The landlord
must give the tenant written notice of the locaon where the security deposit is held but is not
landlord may post a bond with the superior court cerk of the county in which the rental property
Is a landlord required to give the tenant the interest earned on the security deposit?
No. Georgia law does not require the landlord to place the security deposit in an interest-
bearing account nor does the law require that interest earned be paid to the tenant. However, the
tenant and landlord may agree that the landlord will provide interest earned on the security
deposit and, if agreed upon, this should be reflected in the lease.
What happens to the security deposit when the apartment complex changes owners?
The former owner, to whom the securideposit was paid, isresponsible for making
appropriate arrangements for the security deposit. The security deposit may be transferred to the
new owner, making the new owner responsible, othe former owner mayrefund the security
lawsuit, the tenant should write to t rmerfo owner and the rrent owner requesting
information on the security deposit.