383.580 Security deposits.
590 words·~3 min read·
/ky/chapter-383/383-580A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)All landlords of residential property requiring security deposits prior to occupancy
shall be required to deposit all tenants' security deposits in an account used only for
that purpose, in any bank or other lending institution subject to regulation by the
Commonwealth of Kentucky or any agency of the United States government.
Prospective tenants shall be informed of the location of the separate account and the
account number.
(2)Prior to tendering any consideration deemed to be a security deposit, the prospective
tenant shall be presented with a comprehensive listing of any then-existing damage
to the unit which would be the basis for a charge against the security deposit and the
estimated dollar cost of repairing such damage. The tenant shall have the right to
inspect the premises to ascertain the accuracy of such listing prior to taking
occupancy. The landlord and the tenant shall sign the listing, which signatures shall
be conclusive evidence of the accuracy of such listing, but shall not be construed to
be conclusive to latent defects. If the tenant shall refuse to sign such listing, he shall
state specifically in writing the items on the list to which he dissents, and shall sign
such statement of dissent.
(3)At the termination of occupancy, the landlord shall inspect the premises and
compile a comprehensive listing of any damage to the unit which is the basis for
any charge against the security deposit and the estimated dollar cost of repairing
such damage. The tenant shall then have the right to inspect the premises to
ascertain the accuracy of such listing. The landlord and the tenant shall sign the
listing, which signatures shall be conclusive evidence of the accuracy of such
listing. If the tenant shall refuse to sign such listing, he shall state specifically in
writing the items on the list to which he dissents, and shall sign such statement of
dissent.
(4)No landlord shall be entitled to retain any portion of a security deposit if the
security deposit was not deposited in a separate account as required by subsection
(1)of this section and if the initial and final damage listings required by subsections
(2)and
(3)of this section are not provided.
(5)A tenant who disputes the accuracy of the final damage listing given pursuant to
subsection
(3)of this section may bring an action in District Court. Tenant's claim
shall be limited to those items from which the tenant specifically dissented in
accordance with the provisions of subsection
(3)of this section, or except as
otherwise provided, and if the tenant shall fail to sign the listing or specifically
dissent in accordance with subsection
(3)of this section, the tenant shall not be
entitled to recover any damages under this section.
(6)In the event a tenant leaves not paying his last month's rent and does not demand a
return of his deposit, the landlord may, after thirty
(30)days, remove the deposit
from the account and apply any such excess to the debt owing.
(7)In the event the tenant leaves not owing rent and having any refund due, the
landlord shall send notification to the last known or reasonably determinable
address, of the amount of any refund due the tenant. In the event the landlord shall
not have received a response from the tenant within sixty
(60)days from the sending of such notification, the landlord may remove the deposit from the account and retain it free from any claim of the tenant or any person claiming in his behalf.