Security Deposits on Seayora
How to collect, hold, document, and return a security deposit using Seayora’s payment and record-keeping tools.
A deposit is one of the most disputed parts of a tenancy. Collecting and documenting it clearly through the platform gives both sides a record to point to later.
Collecting a deposit
Set the deposit amount on the lease and collect it online alongside or ahead of the first month’s rent, the same way you collect recurring rent — with a timestamped, exportable record.
Documenting the unit’s condition
Pair the deposit with a move-in checklist and photos (see move-in/move-out checklists) so there’s a clear baseline if a deduction is ever disputed.
Returning a deposit
- Complete the move-out checklist and compare it to move-in.
- Itemize any deductions for damage beyond normal wear and tear or unpaid rent.
- Return the balance within your state’s required timeline.
Deposit rules — maximum amounts, where deposits must be held, and return deadlines — vary by state and city. Seayora provides the tools; you’re responsible for complying with your local requirements.
Frequently asked questions
Where is the deposit held?
Deposit-handling requirements — including whether it must be held in a separate account — vary by state and city. Seayora records the transaction; where and how you hold the funds is your responsibility to determine.
Can a deposit be applied to the last month’s rent?
Only if your lease and local law allow it — a security deposit and last month’s rent are often treated as legally distinct, so confirm before applying one to the other.
What if I forget to send an itemized deduction list on time?
Missing your state’s deadline can forfeit your right to deduct anything, in some states — return the full deposit or send the itemization as soon as possible and confirm your state’s specific consequence for a late notice.