CA AB414

Requires landlords who received security deposits or rent payments electronically to return the remaining security deposit electronically to a tenant-designated bank account, unless both parties agree in writing to a different return method

Mandates landlords notify tenants in writing of their right to receive security deposits electronically when the tenancy is ending, if electronic payments were previously used

For units with multiple adult tenants, requires the security deposit to be returned by check made payable to all adult tenants on the lease, unless all parties agree in writing to specify how funds will be divided and returned

Allows landlords and tenants to mutually agree to receive the itemized statement of deductions via email or first-class mail to a tenant-provided address

Maintains the existing 21-calendar-day deadline for landlords to return security deposits and provide itemized statements after a tenant vacates