Overview:
Security deposits in Alaska serve as financial protection for landlords while ensuring tenants receive fair treatment regarding their rental payments and damages. The state enforces strict regulations to govern their collection, storage, and return.
Under Alaska Statutes Title 34, Chapter 03, landlords must comply with specific security deposit rules. Non-compliance may result in penalties, including potential forfeiture of the deposit.
This guide covers:
How much landlords can charge
Where deposits must be stored
Rules for returning security deposits
Penalties for non-compliance
Related Statute: Alaska Stat. § 34.03.070, § 34.03.120
1. Security Deposit Limits & Storage Requirements
Maximum deposit: Landlords cannot charge more than two months’ rent as a security deposit, except for units renting above $2,000 per month.
Storage requirements: Deposits must be held in a trust account separate from personal funds.
Tenant notification: Landlords must disclose the location of the trust account if requested by the tenant.
Law Reference: Alaska Stat. § 34.03.070
2. Security Deposit Returns & Allowable Deductions
Return deadline: Landlords must return the deposit within 14 days if no deductions are made, or 30 days if deductions apply.
Permissible deductions: Landlords may withhold portions of the deposit for:
Unpaid rent
Damages beyond normal wear and tear
Costs associated with breaking the lease
What landlords cannot deduct:
Routine cleaning
General maintenance
Normal wear and tear (e.g., minor carpet wear, small nail holes)
Itemized statement required: If deductions are made, landlords must provide an itemized statement within the 30-day timeframe.
Law Reference: Alaska Stat. § 34.03.070
3. Interest Payments & Documentation Requirements
Interest payments: Alaska law does not require landlords to pay interest on security deposits.
Move-in condition report: Landlords must provide tenants with a written statement of property condition at move-in and move-out.
Tenant review period: Tenants have the right to review and dispute the move-in condition report.
Failure to provide documentation: If landlords do not provide an itemized list of damages, they may be required to return the full deposit.
Law Reference: Alaska Stat. § 34.03.070
4. Penalties for Mishandling Security Deposits
Alaska imposes penalties on landlords who fail to comply with security deposit laws:
Failure to return the deposit within 14-30 days → Landlord may owe double the amount wrongfully withheld
Failure to provide an itemized statement → Tenant may take legal action for full deposit recovery
Law Reference: Alaska Stat. § 34.03.070, § 34.03.120
Key Takeaways
Security deposits cannot exceed two months’ rent, except for high-rent units.
Landlords must store deposits in a separate trust account.
Deposits must be returned within 14-30 days, with an itemized statement if deductions apply.
Only specific deductions are allowed—normal wear and tear cannot be charged.
Non-compliance can result in double damages owed to tenants.
By understanding and following Alaska security deposit laws, landlords can avoid costly legal issues, and tenants can ensure their rights are protected.
Disclaimer: This blog post is intended for informational purposes only and does not constitute legal advice. Readers should not act or refrain from acting based on any information included in this post without seeking legal counsel or other professional guidance specific to their situation. The information is provided “as is” without any representations or warranties of any kind, express or implied, including but not limited to the accuracy, completeness, or reliability of the content. Laws and regulations may change and vary by jurisdiction.
