CHAPTER 645
HOUSE SUBSTITUTE NO. 1
FOR
HOUSE BILL NO. 926
AS AMENDED BY SENATE AMENDMENT NO. 1
AN ACT TO AMEND CHAPTER 55, PART III, TITLE 25 OF THE DELAWARE CODE RELATING TO THE LANDLORD-TENANT CODE: AND PROVIDING LIMITATIONS UPON THE AMOUNT OF WHICH MAY BE DEMANDED AS A SECURITY DEPOSIT.
Be it enacted by the General Assembly of the State of Delaware:
Section 1. Amend §5511, Chapter 55, Part III, Title 25 of the Delaware Code by adding the following sentence to the end of subsection (a):
"No landlord may require a security deposit in excess of one month's rent on contracts for one year or more."
Section 2. Amend §5511, Chapter 55, Part III, Title 25 of the Delaware Code by inserting a new subsection (d) and renumbering the remaining subsections:
"(d) In the event a landlord rejects a tenant's application, all fees paid, except for a reasonable sum to cover costs for credit determinations, must be returned to the tenant within five (5) business days. All application deposits in excess of $35 must be returned to the tenant if the tenant cancels his apartment application within five (5) business days of signing."
Approved July 27, 1976