Under Alaska law, what is the maximum security deposit a landlord may collect for a standard residential tenancy?
Correct Answer
C) Two months' rent
Under the Alaska Uniform Residential Landlord and Tenant Act (AS 34.03.070), a landlord may not require a security deposit that exceeds two months' rent for a standard residential tenancy. This limit helps protect tenants from excessive upfront costs. The landlord must return the deposit within 14 days after the tenancy ends, along with an itemized statement of any deductions.
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Related Topics & Key Terms
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Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
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