HB 152 Summary

• Landlords must refund all security deposits to tenants upon lease termination, except amounts necessary to cover specified contingencies, and cannot retain deposits for normal wear and tear.

• Refunds must be made within 21 days if no agreement specifies otherwise, and in all cases within 30 days after premises surrender, accompanied by itemized statement of retained amounts and expenditures.

• Third-party managers of residential rental properties must maintain security deposits in a separate account at a federally insured financial institution, kept separate from the manager's operating account.

• Exemptions from the separate account requirement apply to property owners, managers with common members or principals of the property owner entity, real estate licensees, and nonprofit organizations under Idaho Code Chapter 30.

• Property owners remain liable for refund of security deposits when property ownership changes during a tenancy.