Overview
Wyoming security deposit laws outline the rights and responsibilities of both landlords and tenants when it comes to collecting, holding, and returning deposits. These laws ensure transparency and help prevent disputes over deductions.
Under Wyoming Statutes § 1-21-1207 to § 1-21-1211, landlords must follow specific procedures for managing security deposits. Non-compliance may result in penalties and forfeiture of any withheld funds.
This guide covers:
How much landlords can charge
Where deposits must be stored
Rules for returning security deposits
Penalties for non-compliance
Related Statute: Wyo. Stat. § 1-21-1207 to § 1-21-1211
1. Security Deposit Limits & Storage Requirements
Maximum deposit: Wyoming law does not place a limit on the amount landlords may charge for a security deposit.
Storage requirements: There is no legal requirement to store deposits in a separate or interest-bearing account, but funds must be returned in accordance with the law.
Tenant notification: Landlords are not required to disclose the location of the deposit account.
Law Reference: Wyo. Stat. § 1-21-1207
2. Security Deposit Returns & Allowable Deductions
Return deadline: Landlords must return the deposit within 30 days after termination of the lease and delivery of possession. If the lease agreement permits longer, the return period may be extended up to 60 days.
Permissible deductions: Deductions may be made for unpaid rent, damages beyond normal wear and tear, and other charges agreed upon in the lease.
What landlords cannot deduct: Landlords may not deduct for ordinary wear and tear, including worn carpet, faded paint, or minor scuffs.
Itemized statement required: If any part of the deposit is withheld, a written itemized list must be provided to the tenant.
Law Reference: Wyo. Stat. § 1-21-1208
3. Interest Payments & Documentation Requirements
Interest payments: Wyoming law does not require landlords to pay interest on security deposits.
Move-in condition report: Not legally mandated, but landlords and tenants are encouraged to document the unit’s condition at the beginning of the lease.
Tenant review period: Tenants should inspect and record the unit’s condition at move-in and move-out to protect against improper deductions.
Failure to provide documentation: Landlords who fail to return the deposit or itemized deductions on time may forfeit the right to withhold any funds.
Law Reference: Wyo. Stat. § 1-21-1209
4. Penalties for Mishandling Security Deposits
Wyoming law imposes penalties for non-compliance with security deposit regulations.
Failure to return the deposit or provide an itemized list within the legal timeframe may result in the landlord being liable for damages and the return of the full deposit.
Law Reference: Wyo. Stat. § 1-21-1210
Key Takeaways
There is no cap on security deposit amounts in Wyoming.
Deposits must be returned within 30 days, or 60 days if specified in the lease.
Written itemized deductions must be provided when any portion of the deposit is withheld.
Interest is not required to be paid on deposits.
Non-compliance may result in forfeiture of the deposit and legal liability.
By understanding and following Wyoming security deposit laws, landlords can stay compliant, and tenants can better protect their financial rights.
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.
