Alaska Security Deposit Law

Maximum deposit

Landlords may not collect more than two months' rent in combined security deposit and prepaid rent, unless monthly rent exceeds $2,000, plus a separate pet deposit of up to one month's rent (AS 34.03.070(a), (h)). (AS 34.03.070(a), (h))

Two months' periodic rent (security deposit plus prepaid rent combined); no cap where rent exceeds $2,000/month; separate pet deposit up to one month's rent allowed

Return deadline

If proper termination notice was given, landlords must mail the refund and itemized notice within 14 days after the tenancy ends and the tenant delivers possession, or within 30 days if deductions are taken for damages; if the tenant did not give proper notice, the deadline is 30 days (AS 34.03.070(g)). (AS 34.03.070(g))

Itemized statement of deductions

Landlords must itemize accrued rent and damages in a written notice mailed to the tenant's last known address with any amount due (AS 34.03.070(b)). (AS 34.03.070(b))

Interest on the deposit

Alaska law does not require landlords to pay interest on security deposits, though deposits must be kept in a trust account (AS 34.03.070(c)). (AS 34.03.070(c) (trust account; silent on interest))

Penalty for wrongful withholding

A landlord who wilfully fails to return or itemize the deposit as required can owe the tenant up to twice the amount withheld (AS 34.03.070(d)). (AS 34.03.070(d))

Where the deposit is held

Alaska landlords must promptly place deposits and prepaid rent in a trust account with a bank, savings and loan, or licensed escrow agent and may not mix that money with their own funds (AS 34.03.070(c)). (AS 34.03.070(c))

Deposits and prepaid rent go into a trust account at a bank, savings and loan or licensed escrow agent 'wherever practicable'; one account may hold several tenants' money but each tenant's funds must be accounted for separately and cannot be used for another tenant's refund, rent or damages.

Receipt or written notice of the deposit

No Alaska statute requires a deposit receipt or a notice naming the bank, although the landlord must give the tenant the terms and conditions under which any part of the deposit may be withheld (AS 34.03.070(c)). (AS 34.03.070 (no receipt or bank-notice requirement))

Move-in condition checklist

A move-in condition statement is optional in Alaska, but when the landlord requires one, both parties sign it and it becomes strong evidence of the unit's starting condition in any deposit dispute (AS 34.03.020(e), 34.03.335). (AS 34.03.020(e), AS 34.03.335, AS 34.03.090(b))

Optional: if the landlord requires one, a signed premises condition statement (and contents inventory for furnished units) becomes part of the rental agreement, and the tenant must sign to verify its accuracy; once signed it is presumptive evidence of move-in condition that can be rebutted only by clear and convincing evidence.

Pet deposits

Alaska lets a landlord collect an extra pet deposit of up to one month's rent, beyond the regular cap, but not for a service animal, and that money may only cover pet damage (AS 34.03.070(h)-(i)). (AS 34.03.070(h), (i)(2))

Up to one month's rent on top of the two-month cap, only for a pet that is not a service animal; it must be accounted for separately and may be used only for damage the pet directly caused.

Nonrefundable fees

Alaska's landlord-tenant act says nothing about nonrefundable fees; it only caps prepaid rent and deposits 'however denominated' at two months' rent where rent is $2,000 or less (AS 34.03.070(a)). (AS 34.03.070(a) (silent on nonrefundable fees), AS 34.03 (chapter searched for 'nonrefundable'/'fee'))

Small-landlord exemptions

Alaska does not excuse small or owner-occupant landlords from its deposit rules; the only carve-outs are units renting for more than $2,000 a month and arrangements outside the act such as transient lodging (AS 34.03.070(a), 34.03.330). (AS 34.03.070(a), AS 34.03.330(b))

Deposit alternatives and installments

Alaska law has no provision on deposit insurance, surety bonds, deposit-waiver fees or paying a deposit in installments (AS 34.03.070). (AS 34.03.070 (silent on deposit alternatives))