(a) Except as may otherwise be provided in this Chapter, all funds collected from
a tenant and not identified in the vacation rental agreement as occupancy or sales
taxes, fees, or rent payments shall be considered a tenant security deposit and shall
be subject to the provisions of the Residential Tenant Security Deposit Act, as codified
in Article 6 of Chapter 42 of the General Statutes. Funds collected as a tenant security deposit in connection with a vacation rental
shall be deposited into a trust account as required by G.S. 42-50. The landlord or real estate broker shall not have the option of obtaining a bond
in lieu of maintaining security deposit funds in a trust account. In addition to the permitted uses of tenant security deposit monies as provided
in G.S. 42-51, a landlord or real estate broker may, after the termination of a tenancy under this
Chapter, deduct from any tenant security deposit the amount of any long distance or
per call telephone charges and cable television charges that are the obligation of
the tenant under the vacation rental agreement and are left unpaid by the tenant at
the conclusion of the tenancy. The landlord or real estate broker shall apply, account for, or refund tenant security
deposit monies as provided in G.S. 42-51 within 45 days following the conclusion of the tenancy.
(b) A vacation rental agreement shall not contain language compelling or permitting
the automatic forfeiture of all or part of a tenant security deposit in case of breach
of contract by the tenant, and no such forfeiture shall be allowed. The vacation rental agreement shall provide that a tenant security deposit may be
applied to actual damages caused by the tenant as permitted under Article 6 of Chapter 42 of the General Statutes.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Response sent, thank you
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.