Kentucky Security Deposit
Kentucky Security Deposits

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Kentucky SECURITY DEPOSITS

The Kentucky Security Deposit is to be held in a separate account from the landlords personal or other accounts and solely for the purpose of the security deposit.

The Tenant must be notified of the name of the institution and the account number, as per Kentucky State Law.

All communications should be done via Certified Mail, Return Receipt Requested. 

Prior to providing a security deposit, the landlord and tenant must sign a move in inspection list which states the CURRENT condition of the property.

LIMITS

N/A

When you give the landlord a deposit, be sure to get AND keep the receipt EVEN if you give the landlord a check or money order. The amount you give should also be on the lease. Verify the correct amount  is on the lease.

INTEREST ON SECURITY DEPOSIT

N/A

RETURN OF THE SECURITY DEPOSIT

The landlord is NOT entitled to keep any of the deposit if they neglect to open a separate Landlord Tenant Account or fail to complete and sign BOTH the move in inspection and move out inspection with the tenant.

If the tenant fails to pay last month's month rent, the landlord may remove the monies from the account and apply to the balance owing, after 30 days and the tenant did not demand return of the deposit.

If the tenant vacates not owing money, the landlord will mail a notice of the amount  of the refund and after 60 days, the landlord after 60 days may remove the funds from the account for their own use.

See the RentLaw.com Guide to normal wear and tear.

FAILURE TO RETURN THE SECURITY DEPOSIT
Notify the landlord, in writing, of their failure to return the deposit.

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