Minnesota has no deposit cap. Landlords must pay 1% simple annual interest and return the deposit within 21 days after termination and receipt of delivery instructions.
Last verified: 2026-10-10
Max deposit
—
no statutory cap
Return deadline
21
days after tenancy ends
Interest required
Yes
paid to tenant
Separate account
—
statute silent
Maximum Security Deposit
No statutory maximum
No numeric cap established in §504B.178.
Return Deadline
21 days
Three weeks after termination and receipt of address/instructions; qualifying condemnation departure has five-day rule.
How much can a landlord charge for a security deposit in Minnesota?
Minnesota does not set a statutory maximum for security deposits. Landlords and tenants may agree to any amount in the lease. No numeric cap established in §504B.178.
How long does a landlord have to return the security deposit in Minnesota?
Minnesota landlords must return the security deposit — or provide a written itemized statement of deductions — within 21 days after the tenancy ends. Three weeks after termination and receipt of address/instructions; qualifying condemnation departure has five-day rule.
Does Minnesota require landlords to pay interest on security deposits?
Must Minnesota landlords keep security deposits in a separate bank account?
Minnesota's statute does not clearly require a separate account for security deposits. Statute says funds held for tenant; separate-account mandate not established.
Automate security deposit compliance
Property management software handles deposit tracking, deadline reminders, itemized deduction statements, and compliant separate account requirements automatically — so you never miss a Minnesota deadline.
This page is for informational purposes only and is not legal advice. Security deposit laws change — always verify the current statute or consult a licensed attorney in Minnesota before making decisions. Official source: https://www.revisor.mn.gov/statutes/cite/504b.178. Last reviewed: 2026-10-10.