Q: Is a landlord required to provide the address of the financial institution where your security deposit is being held?
A: In Georgia, landlords are not explicitly mandated by state law to provide the precise address of the financial institution where a tenant's security deposit is held. However, they are obliged to adhere to specific regulations governing security deposits. Landlords must deposit the security deposit in an escrow account within a Georgia-based financial institution. Although the law does not require disclosing the bank's address to tenants, it is considered a good practice for transparency and to comply with the notification requirements. Landlords must notify tenants in writing within 30 days of receiving the deposit, including essential details about the deposit and the tenant's right to inspect the property for damages. When the lease concludes, landlords must return the deposit, minus deductions, within a set timeframe, typically 30 days, accompanied by an itemized list of deductions.
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