How to Hold and Return a Security Deposit in South Carolina

Managing a Security Deposit in South Carolina

South Carolina law does not limit how much you can charge as a security deposit. Most people opt to charge the equivalent of one month's rent.

Storing the Deposit

South Carolina law does not give instructions on how to store a security deposit. Many people opt to keep deposits in a bank account separate from their personal finances.

Returning the Deposit

You must return your subtenant's security deposit within 30 days of the end of the sublease. You can use the security deposit to cover any unpaid rent at the end of the sublease or to cover the cost of any damages to the unit that exceed normal wear and tear. You must provide your subtenant with a written, itemized list of any amount you plan to withhold from the deposit within 30 days of the end of the sublease and mail it to the tenant's last known address. If you do not provide this list within 30 days, you forfeit your right to keep any of the deposit and your subtenant can recover in court an amount up to three times the amount you withheld plus attorney's fees.