Ariz. Rev. Stat. § 33-1431
Security deposits
Operative Text
A. A landlord shall not demand or receive as security, however denominated, prepaid rent in an amount or value in excess of two months' rent. This subsection does not prohibit a tenant from voluntarily paying more than two months' rent in advance. B. The landlord shall pay not less than five per cent annual interest on any damage, security, cleaning or landscaping deposit required by a landlord of a tenant. The landlord shall either pay the interest annually or compound the interest annually. C. Upon termination of the tenancy, any security deposit, less any accrued rent and damages, if applicable, shall be returned to the tenant within fourteen days. The security deposit may be applied to the payment of accrued rent and the amount of damages which the landlord has suffered by reason of the tenant's noncompliance with section 33-1451 if it is itemized by the landlord in a written notice delivered to the tenant together with the amount due within fourteen days of termination of the tenancy and delivery of possession by the tenant. D. If the landlord fails to comply with subsections B and C of this section the tenant may recover the property and money due the tenant together with damages in an amount equal to twice the amount wrongfully withheld. E. This section does not preclude the landlord or tenant from recovering other damages to which he may be entitled under this chapter. F. The holder of the landlord's interest in the premises at the time of the termination of the tenancy is bound by this section. G. The amount of any security deposit shall not be changed after the tenant executes the initial rental agreement.
Arizona Revised Statutes § 33-1431 governs how security deposits are collected, held, and returned in residential tenancies. Landlords may not require more than two months' rent as a security deposit, though tenants may voluntarily prepay more. Any required deposit must earn at least five percent annual interest, and upon the end of a tenancy the landlord must return the deposit—minus any properly itemized deductions for accrued rent or damages—within fourteen days. A landlord who wrongfully withholds a deposit or fails to pay interest may owe the tenant twice the amount improperly kept.
Plain English — not legal advice.
Under A.R.S. § 33-1431, compliant operators collect no more than two months' rent as a required security deposit and do not alter the deposit amount after the initial rental agreement is signed. They track and pay at least five percent annual interest on any required deposit, either annually or on a compounded basis. Within fourteen days of the tenancy ending and the tenant delivering possession, they return the deposit along with a written, itemized statement of any deductions for accrued rent or damages covered by § 33-1451—keeping in mind that the current holder of the landlord's interest is bound by these obligations regardless of ownership changes.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
A.R.S. § 33-1431 gives tenants the right to receive their security deposit back, with accrued interest of at least five percent per year, within fourteen days of the tenancy ending and possession being returned. If a landlord makes deductions, those must be explained in a written, itemized notice delivered within that same fourteen-day window. If a landlord fails to pay the required interest or wrongfully withholds any portion of the deposit, § 33-1431(D) provides a remedy of twice the amount wrongfully withheld; tenants who believe their rights under this section have been violated may consider consulting a tenant-rights organization or exploring available civil court options.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated October 14, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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