New Washington Law Regarding Security Deposit Refunds
New Law Changes Security Deposit Refund Timing from 14 to 21 Days
We are pleased to announce that after many years of advocacy efforts in Olympia, Governor Inslee signed a multi-part landlord-tenant bill on March 29, 2016.
While we will provide more information on other provisions of the bill shortly, one part increases the time a landlord may return a security deposit from 14 days to 21 days. The law becomes effective June 8, 2016.
The new law, when it becomes effective, requires a landlord to send a full and complete accounting of any money withheld from a former tenant's security deposit within 21 days after termination of the rental agreement and vacation of the premises. The practical effect of this change to the law is that the additional 7 days allows the landlord sufficient time to obtain information from vendors and prepare the full and complete accounting required by law.
Feel free to call the WMFHA office if you have any questions regarding this new law.