Wyoming Security Deposit Law for Landlords and Tenants
Under Wyoming law, a landlord must return a security deposit unless there is unpaid rent owed, cleaning that needs to be done, or damage which needs to be repaired.
Leases which allow for other costs to be deducted may also be enforced.
That's just one component of the Wyoming security deposit law for landlords and tenants to know. Here are some of the other key points of which you should be aware.
1. Normal Wear And Tear Is Exempt From The Security Deposit.
It is a good idea to take pictures of a property before leaving and take a final inventory of the property's condition for both parties.
Use a currently dated newspaper in your photos as evidence of the date they were taken.
2. A Security Deposit Must Generally Have Some Sort Of Refund.
Landlords are only permitted to keep an entire security deposit if the cleaning and repair costs are equal to that amount.
Only actual costs or overdue rental amounts may be claimed on the deposit.
3. Wyoming Considers Many Fees And Some Prepaid Rent To Be a Security Deposit.
Anything a tenant pays above and beyond the application fee and the first month's rent is considered a security deposit.
This includes cleaning fees, pet fees, and even the last month's rent.
This entire amount must be accounted for when itemizing claims for a refund.
4. Certain Parts Of a Security Deposit May Be Non-Refundable.
Wyoming requires landlords to notify tenants at the time of payment whether or not a portion of their security deposit is non-refundable. That decision cannot be made later.
5. There Is a Deadline For a Refund.
Landlords have 30 days from the time of notification of your forwarding address to send you the balance of your security deposit when there is no damage.
If there is damage, they have up to 60 days.
A separate utilities deposit has 10 days to be returned unless an outstanding bill remains after 45 days.
Tenants who do not receive what they feel is their rightful amount back will need to write a demand letter and then may need to sue in Small Claims Court.
This quick guide to Wyoming security deposit law is not intended to be legal advice or substitute as such. Always seek professional counsel for legal matters.
Many times, there are issues between a landlord and a tenant that need to be resolved but are failed to do so, because both parties have gone too far with their actions, and have retaliated in the... More
Where there is a landlord, there will also be a tenant, and it is no surprise that these two parties can only work together once there is some sort of agreement, contract or a binding deal in place.... More
Many landlords find it difficult to write and draft a lease agreement. Since every State has its own general template, it can also be difficult to make sure your lease agreement meets all the criteria... More
If you’re a landlord and want to manage your business in a better way, you should endeavor to get in touch with those industry experts who have the experience and the skills to help you do it. This is... More
When you talk about the most common disputes arising between landlords and tenants, nonpayment of rent has to be there in the list. People rent their properties to earn money, and when a tenant... More
If you have ever rented a living space and have had to move many times, you’d already know how difficult it is to find decent, affordable and secure living premises. A person has to deal with the same... More
Landlords across the state have the prime responsibility to make sure they inspect and up keep their property once they have rented it to the tenants. Inspections can occur monthly or yearly depending... More
Everyone knows that a landlord’s job is not easy. These folks have specific duties and responsibilities that they must perform in order to be fair. Being a landlord is not a position but it is, in... More
Asking for a security deposit is quite common in property dealings. The reason to ask for a security deposit is to have something that would help a property owner recover some of their financial... More