Florida Interest on deposits

Does a landlord have to pay interest on a security deposit in Florida?

Not required. The landlord may hold deposits in a separate non-interest-bearing Florida account. If the landlord uses an interest-bearing account, the tenant gets at least 75% of the annualized interest or 5% simple interest (landlord's choice). A landlord who posts a surety bond instead must pay 5% simple interest.

Verified Source: Fla. Stat. § 83.49(1) · last checked 2026-10-15