South Carolina Security Deposit Law

Maximum deposit

South Carolina sets no limit on the size of a residential security deposit, but a landlord renting more than four adjoining units who uses different deposit standards for different tenants must post or hand out those standards before the lease is signed (S.C. Code § 27-40-410(c)). (S.C. Code § 27-40-410 (no amount limit; (c) disclosure of differing deposit standards))

Return deadline

Landlords must send the itemized written notice and any deposit balance within 30 days after the latest of termination of the tenancy, delivery of possession, or the tenant's demand, to the forwarding address the tenant gives in writing (S.C. Code § 27-40-410(a)). (S.C. Code § 27-40-410(a))

Itemized statement of deductions

Any deduction for accrued rent or damage must be itemized in a written notice sent to the tenant with the amount due within the 30-day period (S.C. Code § 27-40-410(a)). (S.C. Code § 27-40-410(a))

Interest on the deposit

South Carolina law does not require landlords to pay interest on security deposits (S.C. Code § 27-40-410, silent). (S.C. Code § 27-40-410 (silent on interest))

Penalty for wrongful withholding

A landlord who fails to return the deposit or prepaid rent with the required itemized notice owes the tenant three times the amount wrongfully withheld plus reasonable attorney's fees (S.C. Code § 27-40-410(b)). (S.C. Code § 27-40-410(a)-(b))

Where the deposit is held

South Carolina does not regulate where a landlord banks a tenant's deposit; § 27-40-410 covers only its return (S.C. Code § 27-40-410). (S.C. Code § 27-40-410)

Receipt or written notice of the deposit

South Carolina law requires no receipt or written notice when a security deposit is paid (S.C. Code § 27-40-410). (S.C. Code § 27-40-410)

Move-in condition checklist

There is no statutory move-in checklist or inspection requirement for South Carolina rentals (S.C. Code § 27-40-410). (S.C. Code § 27-40-410)

Pet deposits

South Carolina has no statute specific to pet deposits, and because residential deposits are uncapped a pet deposit is limited only by the lease (S.C. Code § 27-40-410). (S.C. Code § 27-40-410)

Nonrefundable fees

South Carolina's Residential Landlord and Tenant Act does not ban or limit nonrefundable fees (S.C. Code §§ 27-40-310, 27-40-410). (S.C. Code §§ 27-40-310, 27-40-410)

Small-landlord exemptions

Only landlords renting more than four adjoining units who charge different tenants different deposits must post or hand out their deposit-setting standards before the lease is signed, so smaller landlords are exempt from that duty (S.C. Code § 27-40-410(c)). (S.C. Code § 27-40-410)

A landlord who fails to post or provide the standards cannot deduct damages from the difference between that tenant's deposit and the lowest deposit charged for a comparable unit.

Deposit alternatives and installments

South Carolina has no law on surety bonds, deposit-waiver fees or installment deposits for residential tenants (S.C. Code § 27-40-410). (S.C. Code § 27-40-410)