Quick Facts | Answer |
Maximum / Limit | Usually 2 Months’ Rent |
Receipt Requirement | None |
Inventory Requirement | None |
Interest Requirement | None |
To learn about laws on security deposit returns in Alaska, click here.
Maximum Security Deposit Allowed in Alaska
Alaska law limits the maximum security deposit to two months’ rent. However, if the rent exceeds $2,000 per month, there is no limit to the security deposit.
Can Landlords Charge an Additional Pet Deposit in Alaska?
In Alaska, landlords can charge a pet deposit, except for service dogs and emotional support animals. However, the pet deposit cannot exceed one month’s rent.
This amount is in addition to the security deposit, but the pet deposit must only be used for damage caused by the pet.
How Much Rent Can a Landlord Collect Upfront in Alaska?
Landlords in Alaska can collect the first month’s rent in advance. However, landlords can only collect two additional months’ rent in advance, whether collected as a “security deposit” or “last month’s rent,” unless the monthly rent is greater than $2,000.
Security Deposit Collections in Alaska
When collecting a security deposit, landlords in Alaska must promptly deposit the money in a financial account and provide the tenant with a written statement describing the terms and conditions under which the deposit may be withheld by the landlord.
Do Landlords Have to Provide a Receipt for the Security Deposit in Alaska?
Although some states like Washington require a receipt, landlords are not required to provide a receipt for the security deposit in Alaska.
What Obligations Do Landlords Have to Establish the Condition at Move-in in Alaska?
Alaska law does not have specific obligations before a tenancy to establish the condition of the rental unit. While other states like Washington have pre-tenancy obligations like a written inventory of damages, Alaska does not.
Security Deposit Holdings in Alaska
Alaska law requires landlords to hold security deposits in a trust account in a bank, savings and loan association, or licensed escrow agent. Prepaid rent and security deposits can be held in the same account, but they must be kept separate from the landlord’s own funds.
The landlord must separately record and apply the amount of prepaid rent and security deposit collected from each tenant.
Are Tenants Entitled to Interest on Their Security Deposit in Alaska?
Alaska law does not require landlords to provide interest on held security deposits.
How Are Security Deposits Accounted for in Alaska?
Security deposits are not considered taxable income when they are collected.
What Happens to a Security Deposit When the Property is Sold in Alaska?
When a property is sold in Alaska, the seller must transfer the security deposit to the new owner, who must handle it according to the same rules.
Sources
- 1 Alaska Stat. § 34.03.070
-
…a landlord may not demand…a security deposit, however denominated, in an amount or value in excess of two months’ periodic rent.
Source Link - 2 Alaska Stat. § 34.03.070
-
This section does not apply to rental units where the rent exceeds $2,000 a month.
Source Link - 3 Alaska Stat. § 34.03.070
-
…a landlord may demand or receive an additional security deposit from a tenant who has a pet on the premises that is not a service animal…may not exceed the periodic rent for one month..
Source Link - 4 Alaska Stat. § 34.03.070
-
…an additional security deposit from a tenant who has a pet…shall be…applied only to the amount of damages that are directly related to the pet of the tenant.
Source Link - 5 Alaska Stat. § 34.03.070
-
…a landlord may not demand or receive prepaid rent or a security deposit, however denominated, in an amount or value in excess of two months’ periodic rent.
Source Link - 6 Alaska Stat. § 34.03.070
-
…the landlord shall provide to the tenant the terms and conditions under which the prepaid rent or security deposit or portions of them may be withheld by the landlord.
Source Link - 7 Alaska Stat. § 34.03.070
-
All money paid to the landlord by the tenant as prepaid rent or as a security deposit…shall be promptly deposited…in a trust account in a bank, savings and loan association, or licensed escrow agent…
Source Link - 8 Alaska Stat. § 34.03.070
-
Nothing in this chapter prohibits the landlord from commingling prepaid rents and security deposits in a single financial account…
Source Link - 9 Alaska Stat. § 34.03.070
-
The landlord may not commingle prepaid rent and security deposits with other funds.
Source Link - 10 Alaska Stat. § 34.03.070
-
…the landlord shall separately account for prepaid rent and security deposits received from each tenant.
Source Link - 11 Alaska Stat. § 34.03.070
-
The holder of the landlord’s interest in the premises at the time of the termination of the tenancy is bound by this section.
Source Link