What information must be disclosed to a tenant regarding their security deposit?

When it comes to the security deposit, it is essential for landlords or property managers to disclose both the amount of the deposit and the location where it is held. This requirement ensures transparency and builds trust between the tenant and the landlord, allowing the tenant to know that their funds are secure and that they have a clear understanding of the financial arrangements tied to their lease agreement.

Providing this information also serves to protect both parties by establishing a clear record of the agreed-upon security deposit amount and its storage, which can be crucial during the move-out process should disputes arise about the return of the deposit. Knowing where the security deposit is held can also help tenants understand under which specific conditions that money may be withheld or released back to them when they move out.

In contrast, only providing the amount of the deposit leaves out a critical piece of information regarding its safekeeping, and delivering a tenant's credit score or personal details of the property manager does not directly pertain to the management of the security deposit and is thus irrelevant in this context.