News: Security Deposit Disposition and Return

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By Heidi Palutke, Esq. CAA research counsel Owners have a new option for compliance with the 21-day deadline for accounting for a tenant’s security deposit. CAA-sponsored AB 1679, which took effect Jan. 1, allows an owner to provide the accounting by email and electronically return any remaining deposit into the renter’s bank account. Specifically, AB 1679, introduced by Assemblywoman Susan A. Bonilla, now provides that after either the owner or resident has given notice of termination, they may agree to have the owner: Deposit any remaining portion of the security deposit electronically to a bank account or other financial institution… Read More

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