Security deposits in Wyoming are regulated by Wyoming Statutes § 1-21-1201 to § 1-21-1209. Certain municipalities may have local laws that supplement state regulations. To ensure full compliance, verify the regulations applicable in your area.

Maximum Security Deposit

Wyoming state law does not currently limit the amount that landlords/property managers can require as a security deposit. Landlords/property managers may also charge a separate deposit as security for the tenant’s payment of utilities, if payment of utilities is required under the lease.

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Holding & Interest Requirements

Holding Requirements: Wyoming state law does not currently require security deposits to be held in a bank account within the state, in a separate account, or in an interest-bearing account.

‍Interest on Deposits: Wyoming state law does not currently require landlords to pay interest to tenants on security deposits.

Information Provided to Tenant: Wyoming state law does not currently require landlords/property managers to disclose where the security deposit is held.

Deposit Refunds

Timeline: Within 30 days of the termination of the tenancy or 15 days after receipt of the tenant’s new address, whichever is later, the landlord/property manager must either (1) return the full security deposit to the tenant, or (2) provide the tenant with a written itemization of any deductions to the security deposit, together with the portion of the security deposit being returned. If there is damage to the premises, this period may be extended by an additional 30 days. However, if a court terminates a lease due to the landlord/property manager’s failure to correct a defective condition after the tenant provided notice and opportunity to cure the condition, the landlord/property manager must return the full security deposit within 30 days of the date the lease is terminated.

Permissible Deductions: Landlords/property managers may deduct the following from security deposit funds:

• Unpaid rent
• Damages beyond normal wear and tear
• Cleaning costs to restore the rental unit to its condition at the start of the tenancy
• Other charges due under the lease

If the landlord/property manager holds a separate deposit for the payment of utilities, this deposit must be refunded to the tenant within 10 days of the tenant’s demonstration that all utility charges have been paid. Absent such a showing within 45 days of the termination of the tenancy, the landlord/property manager must, within 15 days thereafter, apply the utilities deposit to the outstanding utilities owed by the tenant. Any remaining deposit must then be refunded within 7 days of application or 15 days of the receipt of the tenant’s new mailing address, whichever is later.

Documentation of Deductions: The written itemization of deductions must explain the reason for each deduction from the security deposit.

‍Penalties for Violations: Failure to return the security deposit or utilities deposit or provide the written itemization of deductions as required by Wyoming state law may result in the landlord/property manager being liable for the full amount of the security deposit, plus attorney’s fees and court costs if the tenant wins in a lawsuit.

Sale of the Rental Property

The owner of the premises at the time of the termination of the tenancy is obligated to return the security deposit to the tenant.