Massachusetts Security Deposit Law: M.G.L. c. 186 § 15B Triple Damages

Massachusetts General Laws Chapter 186 § 15B

Massachusetts has one of the strictest consumer protection statutory schemes in the nation regarding security deposits under M.G.L. c. 186 § 15B.

Strict Administrative Mandates

A Massachusetts landlord must place the deposit in a separate, interest-bearing bank account in a Massachusetts financial institution within 30 days of receipt, provide written receipt stating bank details, and execute a formal Statement of Condition at commencement.

30-Day Return & Sworn Itemization

Within 30 days after termination of tenancy, the landlord must return the deposit plus accrued interest, or provide a sworn statement of damages signed under the pains and penalties of perjury, accompanied by written estimates or repair receipts.

Mandatory Triple (3x) Damages

Under M.G.L. c. 186 § 15B(7), failure to deposit funds properly, commingling funds, or failing to return the deposit within 30 days results in mandatory treble damages (3x the deposit amount), plus 5% interest and reasonable attorney's fees.