What is the security deposit limit in Ohio?
Ohio law does not set a maximum security deposit amount. However, any deposit exceeding $50 or one month's periodic rent (whichever is greater) must earn interest at 5% per annum if the tenant occupies the unit for six months or more. Interest is computed and paid annually. Landlords must return the deposit within 30 days after the rental agreement terminates and possession is delivered, along with an itemized written statement of any deductions. Tenants must provide a forwarding address in writing to receive the return. Failure to comply entitles tenants to the wrongfully withheld amount plus damages equal to that amount, plus reasonable attorney fees.