How to Hold and Return a Security Deposit in Wisconsin

Managing a Security Deposit in Wisconsin

In Wisconsin, there is no legal limit to the amount you may charge as a security deposit. Most people choose to charge the equivalent of one month's rent.

Storing the Deposit

There is no state law governing how you must store a security deposit in Wisconsin. It's common to keep the money in a bank account separate from your personal finances. If the security deposit is paid for in cash, you must provide your subtenant with a written receipt.

Returning the Deposit

You must return your subtenant's security deposit within 21 days of the end of the sublease. You can use the security deposit to cover any unpaid rent at the end of the sublease, unpaid utilities owed to you, 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 21 days of the end of the sublease.