Security deposit interest in Alaska
No — Alaska does not require landlords to pay interest on security deposits.
There is no interest to calculate — here is what does apply
Alaska sets no interest requirement, so there is no figure to work out. The rules below are the ones that decide whether you get your deposit back in full, which is usually the larger sum anyway.
Deadline to return your deposit
14 days after the tenancy ends.
Miss it and the consequences below start to apply.
What to do next
- Give your landlord a written forwarding address. Several states make the return duty conditional on it, and Alaska's rules are summarised below.
- Photograph the unit at move-out, dated, before you hand back the keys. The dispute is almost always about condition.
- If the deadline passes, put the request in writing and cite Alaska Stat. Sec. 34.03.070 (Uniform Residential Landlord and Tenant Act). Keep a copy of what you sent and when.
Not legal advice. This is general information, not legal advice. Security deposit laws change and vary by jurisdiction. Verify with the cited statute or consult a licensed attorney in your state before taking action.
What does Alaska law actually say?
Alaska does not require landlords to pay interest on residential security deposits. The statute does require all deposits and prepaid rent to be held in a trust account at a financial institution or with a licensed escrow agent, separate from the landlord's other funds, and the landlord must disclose the account's location to the tenant. However, nothing in the statute obliges the landlord to pay any interest earned to the tenant.
Deposits are capped at two months' rent, except where the monthly rent exceeds 2000 dollars. Where the tenancy is terminated with proper notice the landlord must return the deposit, with an itemised written statement of any deductions, within 14 days; where the tenant leaves without proper notice or is evicted the period is 30 days. Deductions are limited to unpaid rent and damages beyond normal wear and tear, and reasonable cleaning costs where the lease requires it.
This section does not apply where the tenant occupies the unit as part of employment and rent is paid by services rather than money.
What if your landlord does not comply?
No interest obligation, so no interest penalty. Deliberate non-compliance with the return requirements, or wrongful withholding, makes the landlord liable for up to twice the amount wrongfully withheld. A tenant who leaves without proper notice is liable for damages equal to two months' rent or actual damages, whichever is greater. If the landlord's failure was beyond their control, liability is limited to the actual amount owed.