Quick answer: A Maine lease may not require a security deposit of more than two months’ rent. The landlord must hold the deposit in a financial institution account beyond the reach of its creditors, disclose the bank and account number on request and return it within the time in the lease, up to 30 days, or 21 days for a tenancy at will.
This Maine security deposit limit calculator applies 14 M.R.S. 6032. Enter the monthly rent and the deposit, and a surety bond if there is one: it shows the two-month cap and whether the total is over it. It also tells you if the building is exempt because the landlord lives in it and it has five or fewer units. If the total looks high, ask the landlord in writing to explain each payment and keep the answer with the lease. A landlord should do the same in reverse: state the deposit, the bank and the account in a signed receipt, so that both sides can later show what was promised and what was paid.
Maine security deposit rules at a glance
| Rule | What Maine says |
|---|---|
| Maximum amount | Two months’ rent (14 M.R.S. 6032) |
| What counts | Any advance or deposit, however named, whose primary function is to secure the lease (6031(2)) |
| Surety bond | A bond and a deposit together may not exceed 2 months’ rent (6039(3)) |
| Where it is held | A financial institution account beyond the reach of creditors; no commingling (6038(1)) |
| Disclosure | The institution and account number, on request (6038(1)) |
| Refund | The time in a written agreement, up to 30 days; 21 days at will (6033) |
| Account violation | Actual damages, $500 or one month’s rent, whichever is greatest (6038(2)) |
| Exemption | Owner-occupied buildings with 5 or fewer units (6037(2)) |
How does the Maine deposit law work?
- The two-month cap. See the maximum security deposit in Maine.
- Pet deposits and fees. See Maine pet deposits and fees.
- First and last month, rent increases and other charges. See up-front charges when renting in Maine.
What does this deposit calculator check?
It multiplies the rent by two and compares the total of the deposit and any surety bond with that amount. The definition of a security deposit is any advance or deposit of money, whatever it is called, whose primary function is to secure the lease, so add every payment held for that purpose. It does not apply to a tenancy in an owner-occupied building of five or fewer units, because the chapter exempts it. When the deposit must come back is a separate question: see the Maine security deposit return deadline calculator.
Examples of the Maine deposit cap
| Monthly rent | Deposit | Result | Why |
|---|---|---|---|
| $1,000 | $1,000 | Within the cap | One month |
| $1,000 | $2,000 | Exactly at the cap | Two months |
| $1,000 | $2,500 | $500 over the cap | Two and a half months |
| $1,000 | $1,500 plus a $700 bond | $200 over the cap | Deposit and bond together |
These examples show the arithmetic. They are not statements about a particular lease or landlord.
Related Maine landlord-tenant calculators
These four calculators cover the same tenancy from different angles. From here you can go to the Maine security deposit return deadline calculator for the date the landlord must refund or itemize the deposit, the Maine eviction notice calculator for the notice period before a lease can end and the Maine eviction timeline calculator for the earliest legal dates once an eviction case starts. Each one cites its own Maine statutes and shows only what the law says.
Frequently asked questions
What is the maximum security deposit in Maine?
Two months’ rent.
Can a landlord ask for a surety bond instead?
It may offer one, but a bond and a deposit together may not exceed two months’ rent, and the landlord cannot require one.
Where must a Maine landlord hold the deposit?
In a financial institution account beyond the claim of its creditors, not commingled, with the institution and account number disclosed on request.
What if the landlord breaks the account rules?
The tenant recovers actual damages, $500 or one month’s rent, whichever is greatest, plus costs.
Does the cap apply to every landlord?
Not to an owner-occupied building with 5 or fewer units.
When must the deposit be returned?
The time in the written agreement, up to 30 days, or 21 days for a tenancy at will.