How to Hold and Return a Security Deposit in Wyoming

Managing a Security Deposit in Wyoming

In Wyoming, there is no legal limit to the amount you may charge as a security deposit. Most people choose to charge the equivalent of one month's rent.

Storing the Deposit

There is no state law governing how you must store a security deposit in Wisconsin. It's common to keep the money in a bank account separate from your personal finances. If the security deposit is paid for in cash, you must provide your subtenant with a written receipt.

Returning the Deposit

You must return your subtenant's security deposit within 30 days of the end of the sublease. You can use the security deposit to cover any unpaid rent at the end of the sublease or to cover the cost of any damages to the unit that exceed normal wear and tear. If you are deducting anything from the security deposit to repair damages, you are given an extra 30 days to return the deposit.