M.G.L. c. 186, § 15B: Massachusetts security deposit rules in plain English
What M.G.L. c. 186, § 15B says about Massachusetts security deposits: the cap, the deadline to return the deposit, itemized deductions and interest. Every fact below comes from our statute-checked data. Last verified 2026-10-22.
Quick answer
- Return deadline
- 30 days
- Maximum deposit
- One month's rent. At or before the start of the tenancy the landlord (or its agent) may require only: rent for the first full month, rent for the last full month at the same rate, a security deposit equal to the first month's rent, and the purchase and installation cost of a key and lock. After the tenancy begins the landlord may not demand rent in advance beyond the current month or a larger deposit. The deposit stays the tenant's property: it must be held in a separate interest-bearing account in a bank located in Massachusetts, out of reach of the landlord's creditors, and the tenant must get a receipt within 30 days naming the bank, its location and the account number (failure entitles the tenant to immediate return). The landlord must give a signed receipt when taking the deposit and, within 10 days after the tenancy starts (or on receipt of the deposit, if later), a separate signed written statement of the unit's condition with a prescribed notice; the tenant has 15 days to return it with a list of any other damage. The landlord must also keep records of deposits for two years.
- Itemized list
- Yes, an itemized list of deductions is required
- Interest
- Yes. If the deposit is held a year or longer, 5% per year or the lesser amount the bank actually paid, paid to the tenant each year with a statement naming the bank, account number and amount (any accrued interest is due within 30 days if the tenancy ends before the anniversary). Interest on prepaid last month's rent is also owed at 5% or the lesser bank rate.
What M.G.L. c. 186, § 15B says, as we verified it
Deposit limit
One month's rent. At or before the start of the tenancy the landlord (or its agent) may require only: rent for the first full month, rent for the last full month at the same rate, a security deposit equal to the first month's rent, and the purchase and installation cost of a key and lock. After the tenancy begins the landlord may not demand rent in advance beyond the current month or a larger deposit. The deposit stays the tenant's property: it must be held in a separate interest-bearing account in a bank located in Massachusetts, out of reach of the landlord's creditors, and the tenant must get a receipt within 30 days naming the bank, its location and the account number (failure entitles the tenant to immediate return). The landlord must give a signed receipt when taking the deposit and, within 10 days after the tenancy starts (or on receipt of the deposit, if later), a separate signed written statement of the unit's condition with a prescribed notice; the tenant has 15 days to return it with a list of any other damage. The landlord must also keep records of deposits for two years.
Interest
Yes. If the deposit is held a year or longer, 5% per year or the lesser amount the bank actually paid, paid to the tenant each year with a statement naming the bank, account number and amount (any accrued interest is due within 30 days if the tenancy ends before the anniversary). Interest on prepaid last month's rent is also owed at 5% or the lesser bank rate.
Full citation: M.G.L. c. 186, § 15B(1)(b), (1)(d), (2), (3), (4), (5) Read the official text
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FAQ: M.G.L. c. 186, § 15B
How long does a landlord have to return a deposit under M.G.L. c. 186, § 15B?
Under M.G.L. c. 186, § 15B, a Massachusetts landlord has 30 days to return the security deposit or send an itemized list of deductions.
Is there a limit on the security deposit in Massachusetts?
One month's rent. At or before the start of the tenancy the landlord (or its agent) may require only: rent for the first full month, rent for the last full month at the same rate, a security deposit equal to the first month's rent, and the purchase and installation cost of a key and lock. After the tenancy begins the landlord may not demand rent in advance beyond the current month or a larger deposit. The deposit stays the tenant's property: it must be held in a separate interest-bearing account in a bank located in Massachusetts, out of reach of the landlord's creditors, and the tenant must get a receipt within 30 days naming the bank, its location and the account number (failure entitles the tenant to immediate return). The landlord must give a signed receipt when taking the deposit and, within 10 days after the tenancy starts (or on receipt of the deposit, if later), a separate signed written statement of the unit's condition with a prescribed notice; the tenant has 15 days to return it with a list of any other damage. The landlord must also keep records of deposits for two years.
Does Massachusetts require an itemized list of deductions?
Yes, an itemized list of deductions is required. Citation: M.G.L. c. 186, § 15B(1)(b), (1)(d), (2), (3), (4), (5).
Does the landlord have to pay interest on the deposit in Massachusetts?
Yes. If the deposit is held a year or longer, 5% per year or the lesser amount the bank actually paid, paid to the tenant each year with a statement naming the bank, account number and amount (any accrued interest is due within 30 days if the tenancy ends before the anniversary). Interest on prepaid last month's rent is also owed at 5% or the lesser bank rate.
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Scan my Massachusetts leaseGeneral information only, not legal advice. Last verified 2026-10-22. Laws change; verify with the linked source or a licensed attorney.