Where do you keep security deposits in PA?

nicole_hbgOct 1, 2026

Conversation starter

I'm opening a separate account for tenant deposits. Does PA have rules about what kind of account it has to be?

3 replies

  1. jr_lancasterOct 1, 2026

    Yes. PA requires deposits over $100 to be kept in an escrow account at a regulated bank (or covered by a bond instead). You have to tell the tenant in writing the name and address of the bank and how much is in it.

  2. ben_spreadsheetsOct 1, 2026

    I keep one account just for deposits and never pay anything else from it. When someone moves out, the money is right there.

  3. marcus_4plexOct 1, 2026

    This is the thread I needed. Going to the bank this week.

Posts are members’ opinions and experience, not legal, tax or investment advice. Laws change and local ordinances can override state law. Check your statute or talk to a local attorney before acting. Forum rules