Security deposits in Fort Smith follow Arkansas statute. A.C.A. §18-16-303 caps the deposit at two months' rent for landlords owning six or more rental units. A.C.A. §18-16-304 requires return, or written itemization of damages, within 60 days of the tenant vacating.
Arkansas's security-deposit statute (A.C.A. §18-16-301 to §18-16-306) applies to most Fort Smith rentals. Under §18-16-302 the statute reaches landlords who own six or more dwelling units; smaller mom-and-pop operators are exempt. §18-16-303 caps the deposit at the equivalent of two months' rent. §18-16-304 requires the landlord, within 60 days of the tenant vacating, to return the deposit or mail an itemized list of damages plus any balance to the tenant's last known address. If the tenant fails to provide an address and the deposit cannot be returned within 180 days, §18-16-305 lets the landlord retain it. §18-16-306 makes a willful violation punishable by up to $200 plus the withheld portion.
Charging over two months in a covered unit, missing the 60-day itemization deadline, or applying improper deductions violates §18-16-303 and §18-16-304. Under §18-16-306 a willful violation exposes the landlord to up to $200 plus the withheld deposit.
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