Property Management
Under Florida's Residential Landlord and Tenant Act (Chapter 83, F.S.), a landlord who receives a security deposit must:
APlace it in an interest-bearing account in any Florida bank
BHold it in a separate non-commingled account OR post a surety bond, and provide written notice of the holding method within 30 days✓ Correct
CReturn it within 15 days if the tenant pays the last month's rent
DKeep it in their operating account for convenient access
Explanation
Florida law (F.S. 83.49) requires landlords to either: (1) hold the deposit in a separate non-commingled Florida bank/savings account, or (2) post a surety bond. The landlord must provide written notice of which method is used, the financial institution's name and address, and whether the account is interest-bearing, within 30 days of receiving the deposit.
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