If a landlord demands a security deposit, it must be put in a federally insured interest-bearing savings or checking account for the benefit of the tenant. This money, plus interest, must be returned to the tenant within 30 days of the end of their lease. In the event that the landlord fails to pay back the tenant or to properly claim the deposit for damages, they will be liable for three times the amount of the security deposit money withheld.^[1]