Alaska security deposit law

You may not demand or receive prepaid rent or a security deposit, however it is named, worth more than two months' periodic rent. The limit covers prepaid rent and deposit together, and it does not apply to a unit that rents for more than $2,000 a month.

AS 34.03.070(a)

• You may also take a separate deposit of up to one month's rent from a tenant who keeps a pet that is not a service animal. Account for it apart from the other deposit and prepaid rent, and apply it only to damage directly related to the pet. AS 34.03.070(h)
• A service animal is one individually trained to do work or perform tasks for the benefit of a person with a physical, sensory, psychiatric, intellectual or other mental disability. AS 34.03.070(i)
• No section of the Act mentions a nonrefundable fee; the two-month limit applies to money held as prepaid rent or a deposit whatever it is called. AS 34.03.010 to 34.03.380

When you or the tenant gave a termination notice that complies with AS 34.03.290, mail the itemized written notice and any refund within 14 days after the tenancy ends and the tenant delivers possession, or within 30 days after the tenancy ends if you deduct for damage. When the tenant did not give such a notice, you have 30 days after the tenancy ends, possession is delivered, or you become aware the unit is abandoned. By its terms, AS 34.03.070, including these deadlines, the trust-account rule and the pet deposit limit, does not apply to a rental unit where the rent exceeds $2,000 a month.

AS 34.03.070(a) AS 34.03.070(g)

• You may apply the deposit and prepaid rent only to accrued rent and to damage caused by the tenant's failure to meet the tenant's duties. Damage does not include normal wear and tear, or deterioration caused by your failure to prepare for expected conditions or to meet your own duties under the Act. AS 34.03.070(b) AS 34.03.070(i)
• Itemize the rent and damages in a written notice mailed to the tenant's last known address, with the amount due the tenant. If you do not know a mailing address but know how to reach the tenant, make a reasonable effort to deliver the notice and refund. AS 34.03.070(b) AS 34.03.070(g)
• If you wilfully fail to follow these rules, the tenant may recover up to twice the amount withheld. AS 34.03.070(d)
• Whoever holds the landlord's interest when the tenancy ends is bound by these rules. A landlord who sells stays liable for the deposit unless it is specifically assigned to and accepted by the buyer. AS 34.03.070(f) AS 34.03.110(a)
• A signed premises condition statement is presumptive evidence of the unit's condition at move-in in a later damage claim. AS 34.03.335 See Move-in condition on the Alaska page

Promptly deposit prepaid rent and security deposits, wherever practicable, in a trust account with a bank, savings and loan association or licensed escrow agent, and give the tenant the terms under which you may withhold any of it. AS 34.03 does not require you to pay interest on a deposit. By its terms, AS 34.03.070, including these deadlines, the trust-account rule and the pet deposit limit, does not apply to a rental unit where the rent exceeds $2,000 a month.

AS 34.03.070(a) AS 34.03.070(c) AS 34.03.010 to 34.03.380

• You may keep several tenants' deposits and prepaid rent in one account, but you must account separately for each tenant's money and may not mix it with other funds. AS 34.03.070(c)
• You may not use money held for one tenant to refund another tenant's deposit or to cover another tenant's rent or damage. AS 34.03.070(c)

If you require one, include a premises condition statement in the lease, incorporate it by reference or attach it, describing the premises and fixtures at the start of the term, with a contents inventory of the furnishings and their condition where that applies. Once you and the tenant sign it, it becomes part of the rental agreement.

AS 34.03.020(e)

• The tenant acknowledges or verifies the statement and inventory by signing them. AS 34.03.090(b)
• In a later claim for damages, a signed statement and inventory are presumptive evidence of the condition at move-in unless their authenticity is rebutted by clear and convincing evidence. AS 34.03.335
• At move-out the tenant must leave the premises in substantially the same condition as at the start, except for normal wear and tear, including professionally cleaning the carpets at your discretion if they were professionally cleaned immediately before the tenancy began. AS 34.03.120(c)
• After a sale, the statement stays valid between the buyer and the tenant until they sign a new one. AS 34.03.110(a)