AB 414: Residential tenancies: return of security.

This bill would revise the provisions for returning security deposits in residential tenancies. The landlord is required to return the security deposit by personal delivery or by check made payable to the tenant. If the landlord received the security deposit or rental payments electronically, they must return the remainder electronically, unless the landlord and tenant agree on another method. The landlord must notify the tenant in writing of their right to receive the security deposit electronically. The bill also allows the landlord and tenant to agree on how to provide the itemized statement, which can be done by email or mail. If multiple adult tenants reside in the unit, the landlord must return the remainder of the security deposit by check made payable to all adult tenants, and provide the itemized statement by mail or personal delivery to one of the tenants.