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Last verified: · Confidence: high
Do landlords have to pay interest on security deposits in Florida, and when is it due?
Short answer
If the deposit earns interest: pay or credit it to the tenant at least once a year
Payment timing: At least once a year, only if the deposit is held in an interest-bearing account or under a surety bond
Florida does not require interest on a deposit held in a non-interest-bearing account. If you hold it in an interest-bearing account (tenant gets at least 75% of the account rate or 5% simple interest, your choice) or post a surety bond (5% simple interest), pay the interest to the tenant or credit it against rent at least once a year.
"the tenant shall receive and collect interest in an amount of at least 75 percent of the annualized average interest rate payable on such account or interest at the rate of 5 percent per year, simple interest, whichever the landlord elects." flsenate.gov
"the landlord must pay directly to the tenant, or credit against the current month's rent, the interest due to the tenant at least once annually." flsenate.gov
If the deposit earns interest: pay or credit it to the tenant at least once a year Verified
Deadline: At least once a year, only if the deposit is held in an interest-bearing account or under a surety bond
Florida does not require interest on a deposit held in a non-interest-bearing account. If you hold it in an interest-bearing account (tenant gets at least 75% of the account rate or 5% simple interest, your choice) or post a surety bond (5% simple interest), pay the interest to the tenant or credit it against rent at least once a year.
"the tenant shall receive and collect interest in an amount of at least 75 percent of the annualized average interest rate payable on such account or interest at the rate of 5 percent per year, simple interest, whichever the landlord elects." flsenate.gov
"the landlord must pay directly to the tenant, or credit against the current month's rent, the interest due to the tenant at least once annually." flsenate.gov
Notes: Fla. Stat. 83.49(1)(b)-(c) and (9) (2026). No interest is owed to a tenant who wrongfully ends the tenancy early.
Last verified 2026-10-21 · Confidence: high · Status: verified · Report a correction