Overview
Maine’s security deposit laws are governed by Maine Revised Statutes Title 14, §6031–6038. These laws establish clear rules for how landlords must collect, hold, and return security deposits to protect tenants from unfair practices.
The laws set strict limits on the amount landlords may charge, mandate storage requirements, and define penalties for non-compliance. Following these rules ensures fair treatment and helps landlords avoid legal trouble.
This guide covers:
How much landlords can charge
Storage requirements
Return deadlines and deductions
Penalties for non-compliance
Related Statute: Me. Rev. Stat. Title 14, §6031–6038
1. Security Deposit Limits & Storage Requirements
Maximum deposit: Landlords may not charge more than two months’ rent as a security deposit. For tenants aged 62 or older, the maximum is one month’s rent.
Storage requirements: Deposits must be held in a separate, interest-bearing account in a Maine financial institution. Interest earned on the deposit must be paid to the tenant if the deposit is held for more than one year.
Written disclosure: Landlords must disclose in writing the name of the institution where the deposit is held.
Law Reference: Me. Rev. Stat. Title 14, §6038(2)
2. Security Deposit Returns & Allowable Deductions
Return deadline: Landlords must return the security deposit within 30 days after the end of the tenancy. If there is no written lease, the deadline is 21 days.
Permissible deductions: Deductions are allowed for unpaid rent, damage beyond normal wear and tear, and other lease violations.
Itemized statement required: An itemized list of deductions must accompany any portion of the deposit that is withheld.
Law Reference: Me. Rev. Stat. Title 14, §6033(2)
3. Penalties for Mishandling Security Deposits
Double damages: If a landlord wrongfully withholds a deposit or fails to return it within the required time frame, the tenant may be entitled to twice the amount wrongfully withheld.
Attorney fees: Courts may also award reasonable attorney fees to the tenant if the landlord is found to be in violation.
Law Reference: Me. Rev. Stat. Title 14, §6034
Key Takeaways
Maine limits security deposits to two months’ rent, or one month for tenants 62 and older.
Deposits must be kept in a separate, interest-bearing Maine account with written disclosure to the tenant.
Deposits must be returned within 30 days (or 21 days if there’s no lease), along with an itemized list of deductions.
Wrongfully withheld deposits may result in double damages and attorney fees.
By complying with Maine’s deposit laws, landlords can maintain legal compliance, and tenants can protect their financial interests.
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.
