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What Happens to My Security Deposit If Ownership or Management Changes?

If the ownership or management of your rental home changes, your security deposit does not disappear and does not reset.

If the ownership or management of your rental home changes, your security deposit does not disappear and does not reset. State law requires that the deposit be properly transferred or returned, and your rights stay the same even if a new owner or management company steps in.

 

Here's how deposit handling works when a property changes hands.

Frequently Asked Questions

What happens to my deposit when ownership or management changes?
Your deposit must either be transferred to the new owner or manager, or returned to you. The new party becomes responsible for it going forward.

Do I need to pay a new deposit?
Usually no. Your existing deposit should transfer with the property. You should not be asked to "re-pay" a deposit without a lawful reason.

Can the new owner change how my deposit is handled?
No. Deposit rules are set by state law and your lease, not by ownership preference. Limits, timelines, and accounting requirements stay the same.

Who returns my deposit when I move out?
Whoever owns or manages the property at the time you move out is responsible for returning it and providing an itemized accounting.

What if I never received notice about the transfer?
Your deposit must still be accounted for properly at move-out, regardless of whether you were notified.

Does this apply if only the management company changes?
Yes. The same rules apply whether ownership or just management changes.

How to protect yourself:

  • Keep a copy of your lease and move-in condition report
  • Save any receipt or confirmation showing you paid the deposit
  • Watch for written notice of ownership or management changes
  • Keep your forwarding address updated when you move out

 

Related knowledge base articles

These articles often come up together when ownership changes: