Ohio sets no statutory cap on residential security deposits under Ohio Rev. Code 5321.16. The landlord must itemize deductions in writing and return the balance within 30 days after the tenant gives up possession. Deposits over $50 or one month's rent held six months or more earn 5% annual interest. Wrongful withholding exposes the landlord to double damages plus attorney's fees.
Ohio Rev. Code 5321.16(A) requires that "any security deposit in excess of fifty dollars or one month's periodic rent, whichever is greater, shall bear interest on the excess at the rate of five per cent per annum if the tenant remains in possession of the premises for six months or more," paid annually. There is no statutory ceiling on the deposit amount. Under division (B), any deduction "shall be itemized and identified by the landlord in a written notice delivered to the tenant together with the amount due, within thirty days after termination of the rental agreement and delivery of possession." The tenant must furnish a forwarding address in writing to receive the notice and refund. Permitted deductions are past-due rent and damages the landlord suffered from the tenant's noncompliance.
Under Ohio Rev. Code 5321.16(C), if the landlord fails to comply with division (B), the tenant may recover the money due "together with damages in an amount equal to the amount wrongfully withheld, and reasonable attorney fees" - effectively double the wrongfully withheld sum plus fees.
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