Security deposit interest in Georgia
No — Georgia does not require landlords to pay interest on security deposits.
There is no interest to calculate — here is what does apply
Georgia 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
30 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 Georgia'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 Ga. Code Sec. 44-7-31 (Georgia Landlord-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 Georgia law actually say?
Georgia does not require landlords to pay interest on residential security deposits to tenants. This is a common point of confusion: the statute does require all deposits to be held in a regulated escrow account used only for security deposits, and the account may be interest-bearing, but the statute expressly provides that the landlord is not required to pay the tenant any interest, income or profit earned on it. Landlords must give the tenant written notice of the location of that escrow account.
Alternatively, a landlord may post a surety bond with the clerk of the superior court instead of using an escrow account. The escrow and bond requirements do not apply to landlords owning ten or fewer rental units unless those units are managed by an outside agent for a fee. There is no statutory cap on the deposit amount, and the deposit must be returned within one month of termination.
What if your landlord does not comply?
No interest obligation, so no interest penalty. Failure to comply with the escrow or notice requirements, or wrongful retention of the deposit, exposes the landlord to liability under Sections 44-7-34 and 44-7-35, which allow the tenant to recover three times the amount wrongfully withheld plus reasonable attorney fees. Failure to provide the required move-in and move-out condition lists forfeits the landlord's right to retain any portion of the deposit.