South Dakota Does Not Require Deposit Interest
South Dakota landlords are not required to pay interest on your security deposit. But that does not mean they can do whatever they want with it.
South Dakota does not require landlords to pay interest on security deposits. However, landlords must return the deposit within 14 days of move-out under S.D. Codified Laws § 43-32-24.
•Your Rights
What Your South Dakota Landlord Does Owe You
Interest or not, South Dakota law gives you real protections on your security deposit:
- 14-day return deadline. Your landlord has 14 days after you move out to return your deposit or provide an accounting of deductions.
- Itemized statement required. Your landlord cannot just keep part of your deposit — they must provide a written, itemized list of every deduction and its amount within 14 days.
- Penalties for violations. If your landlord misses the deadline or makes illegal deductions, South Dakota courts can award you the deposit plus additional penalties.
South Dakota landlords must return security deposits within 14 days of move-out under S.D. Codified Laws § 43-32-24. Violations can result in the deposit plus additional penalties.
•Full State Law
South Dakota Security Deposit Law — Full Breakdown
Return deadlines, allowed deductions, penalty multipliers, small claims limits — everything you need to know about South Dakota deposit law is on one page. Read the full South Dakota security deposit law breakdown.
●Frequently Asked Questions
Frequently Asked Questions
Does South Dakota require landlords to pay interest on security deposits?
No. South Dakota does not require landlords to pay interest on security deposits. However, your landlord must still return your deposit within 14 days of move-out under S.D. Codified Laws § 43-32-24.
What is my landlord required to do with my deposit in South Dakota?
Your South Dakota landlord must return your deposit within 14 days after you move out. They must provide an itemized statement listing any deductions. Failure to comply can result in penalties.
What happens if my South Dakota landlord keeps my deposit?
If your landlord fails to return your deposit within 14 days, you can sue in small claims court for the deposit plus additional penalties. South Dakota small claims courts handle cases up to $12,000.
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DepositHawk is not a law firm and does not provide legal advice. Information and documents are for informational purposes only. No attorney-client relationship is created. Consult a licensed attorney for advice specific to your situation.