Raleigh landlords must follow North Carolina's Tenant Security Deposit Act, NCGS §42-50 through §42-56, which caps deposits by lease term, requires segregated trust accounts, and mandates itemized accounting within 30 days of lease termination.
Under NCGS §42-51, security deposits are capped at two weeks' rent for week-to-week tenancies, 1.5 months for month-to-month, and two months for term leases of two months or more. Pet deposits are non-refundable but separately disclosed. Landlords must hold deposits in a federally insured NC bank trust account or post a bond, and disclose the bank within 30 days. NCGS §42-52 requires written, itemized return of deductions within 30 days of move-out, extendable to 60 days when third-party damage estimates are pending.
Failure to provide timely accounting forfeits the right to keep any portion. Tenants may sue in small claims court to recover the full deposit plus reasonable attorney's fees.
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