Georgia Deposit bank holding / separate account

Deposit bank holding / separate account in Georgia

Yes. A landlord or agent holding a security deposit must place it in an escrow account used only for that purpose at a state or federally regulated bank or lending institution, hold it in trust for the tenant, and tell the tenant in writing where the account is (O.C.G.A. § 44-7-31). As an alternative, the landlord may post a surety bond with the superior court clerk for the total deposits held or $50,000, whichever is less (§ 44-7-32(a)). These rules do not apply to units owned by a person who, with a spouse and minor children, owns ten or fewer rental units, unless a third party manages the units for a fee (O.C.G.A. § 44-7-36).

Verified Source: O.C.G.A. §§ 44-7-31, 44-7-32(a); § 44-7-36 · last checked 2026-10-23