Your security deposit

Purpose

The security deposit is the money the tenant gives the landlord when first renting the apartment or house. It is intended to cover damages that might be caused by the tenant during the term of the lease.
 

Amount of your deposit.

In Pennsylvania, the security deposit can be up to two months of rent in the first year. The amount of the security deposit paid to the landlord should be written on the lease, and you should get a receipt for the security deposit for your records. Never give your landlord money without getting a receipt!
 

Bank account and interest

If the security deposit is over $100, your landlord must put it in a bank account after the second year and give you written notice of the name and address of the bank and the amount of the deposit. Interest on the security deposit during the first year belongs to the landlord. After the first year, the tenant is entitled to the interest on a security deposit over $100.