Massachusetts has some of the strictest security deposit laws in the country. Massachusetts requires landlord to strictly follow a number of regulations, otherwise he/she could get hit with triple damages (3x) plus attorney fees and court costs.
I've never seen a Landlord handle a security deposit properly - NEVER !!
If a landlord takes a security deposit, he/she is required to:
1. Give you a written receipt for the money received.
2. Give you a second receipt that tells you the name and location of the bank and the account number
3. The landlord must also pay you interest EVERY year on your security deposit.
4. The landlord must give back the money within 30 days after you leave.
5. The landlord must give you a “statement of condition” for the apartment.
This is just a sample of the requirements a Landlord must follow. If the landlord has not followed these steps, you may be entitled to treble (3x) damages, plus attorney fees and court costs.
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