Massachusetts Deposit Interest Rules
interest requiredMassachusetts is one of 14 US jurisdictions that require landlords to pay interest on security deposits in covered rentals — the FAQ below covers which tenancies qualify. If your lease is silent about interest, the statutory obligation still applies where it covers you.
Educational information: generated from our Massachusetts law database (last updated 2024-01-01). Not legal advice.
How Massachusetts compares
14 of 51 US jurisdictions require landlords to pay interest on security deposits. Here is how Massachusetts compares with other states in our database.
| State | Deposit Interest Rules |
|---|---|
| Massachusetts | interest required |
| Michigan | no interest required |
| Minnesota | interest required (deposits held 1+ year) |
| Mississippi | no interest required |
| Missouri | no interest required |
Frequently asked questions
- Do landlords have to pay interest on security deposits in Massachusetts?
- Yes — Massachusetts law requires interest on held security deposits in covered rentals. Maximum 1 month rent (separate from first/last month rent and key deposit). Must be held in separate interest-bearing MA bank account. Interest paid annually at lower of 5% or actual bank rate. Receipt required within 30 days. Violation: triple damages plus attorney fees.
- How large can the deposit itself be in Massachusetts?
- Massachusetts generally allows at most 1 month's rent as a security deposit.
- When do I get my security deposit back in Massachusetts?
- Generally within 30 days after move-out, together with any interest owed.
Check Your Lease Against Massachusetts Law
Not sure whether your lease complies with Massachusetts law? Upload it and our analyzer flags problem clauses — deposit terms, entry rights, fees and prohibited provisions — using the same statute-backed database this page is generated from.
Analyze My Lease FreeEducational tool — not legal advice. First analysis is free, no signup required.
More Massachusetts lease law guides
Educational information generated from state statute data — not legal advice. Consult a licensed attorney in Massachusetts for your specific situation.