Heads up landlords! The laws are changing, effective January 15. Read on for an update from the City they just emailed out.

New Deposit and Move-in Fee Limits and Payment Plans

Security Deposit, Pet Deposit, and Move-in Fee Limits – The City has new limits on deposits and fees that can be charged at the beginning of a new rental agreement. The limits include:

• Security deposit plus move-in fees cannot exceed the amount of the first full month’s rent
• Pet deposits are limited to 25% of the amount of first full month’s rent
• Non-refundable move-in fees are limited to only tenant screening reports, criminal background checks, credit reports, and cleaning fees
• Total non-refundable move-in fees are limited to 10% of the first full month’s rent

Payment Plans Required – Landlords must allow an installment plan to pay a security deposit, a pet deposit, move-in fees, and last month’s rent. The payment plan must be structured as follows, unless otherwise agreed to by the landlord and tenant

• For rental agreements of 6 months or longer — 6 consecutive and equal payments
• For agreements between 30 days and 6 months — 4 consecutive and equal payments
• For month-to-month agreements — 2 equal installments; except for pet deposits, which can be paid in 3 equal monthly installments

Security Deposit Returns – The requirements for security deposit returns have not changed. However, the Seattle Department of Construction and Inspections may now investigate and take action if a landlord improperly withholds a deposit return or in other cases where the City’s rental agreement regulations are not followed. Important points in the existing security deposit return requirements are: