Property Management
Under Wisconsin law, the maximum security deposit a residential landlord may collect is:
AOne month's rent
BTwo months' rent
CNo statutory maximum — set by market conditions✓ Correct
DThree months' rent
Explanation
Wisconsin law does not set a maximum security deposit amount for residential rentals; the amount is limited only by market conditions and negotiation between landlord and tenant.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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