“Security Deposit” is a defined term by Connecticut Statute. It is “any advance rental payment other than the first month’s rent and a deposit for “key” or “special equipment.”

Notice there is no mention of a “pet deposit.”

Notice there is no mention of “last months rent.”

First month’s rent is okay.

If the tenant is giving the landlord money that is “not for the first month’s rent or a deposit for a “key” or “special equipment”, it is considered a “security deposit.”

The statute tell us how much security deposit is allowed, as follows:

1.) If a tenant is under 62 years of age, the landlord may take an amount equal to two months rent.

2.) If a tenant is 62 years of age, or older, the landlord may take only one month’s rent.

Adding it all up, the most a landlord can take up front is:

1.) First month’s rent.
2.) Two month’s rent as security deposit.
3.) A deposit for a “key” or “special equipment.”

Note: No “pet deposit” and no “last month’s rent.”

The landlord is required to deposit the security deposit money into an escrow account where it should remain until the tenancy ends when the landlord can use it to offset any damage to the premises caused by the tenant.

This article was provided to all Connecticut REALTORS® by the CT Association of REALTORS®, Inc. (CAR). It is “not” intended to provide legal advice, and should not be used for that purpose. You should always consult an attorney regarding any legal questions you have in interpreting your rights and responsibilities under the law. You may also contact the Connecticut Department of Consumer Protection – Real Estate Division.

Buyers considering a move to our area can now watch these CVN videos, while also receiving an introduction to respected area service providers and professionals. The CVN will roll out a welcome mat to our area for all of the visitors to our web site and offer area businesses an unparalleled opportunity to introduce themselves to new clients who will be in need of their services.

To check out our locally-customized CVN, simply click on relocate.org. “Community Video Network” link.

Sincerely,
Larry Palmer ABR, ABRM, PSCS
Vice President & Relocation Director
CENTURY 21 Connecticut Realty Associates
27 Main Street
Hebron, CT 06248

Personal Business Line: (860) 337-7817
Main Office: (860) 228-9425
Office Fax: (860) 228-1196
Email: lpalmer405@aol.com
Company Web Site: www.c21ctrealty.com

“We are thrilled to have Cathy join our team,” said Jim Celio, Broker/Owner of CENTURY 21 Connecticut Realty Associates. “It is an exciting time to be with the CENTURY 21 System as we increase our market presence in Eastern Connecticut.”

Cathy has been a REALTOR® for 10 years, serving her clients real estate needs, wants and goals. She resides in Hebron with her husband, Chris and their son, John.

Cathy is a Director and past President of the Hebron Lions Club. She is the recipient of the Knight of the Blind Award, as well as the Ambassador of Sight Award. Cathy holds a Bachelors of Science Degree in Accounting from Central Connecticut State University. She is also a member of CAR, NAR and is a REALTOR® Champion.

Let Cathy Gerke’s experience in single family sales benefit you and your family with your most valuable asset – your home! She will work hard to make the intricate details of a real estate transaction appear seamless and go smoothly.