Kentucky Security deposit law

[Ramzi Nuseibeh]

Good afternoon, A little confused on the Kentucky law for security deposit. I know you are supposed to keep them in a separate account than your main checking account, do you need a separate account for each property? That’s not the case, correct? It’s just one account where you keep all security deposits, right? Thanks! Ramzi

[Ron Burmeister]

@Ramzi Nuseibeh and @Michael Seeker - compliance with KRS 383.580, actually 383.505 thru 383.705, is only required if your city or county has adopted the Uniform Residential Landlord and Tenant Act. Here is a link to the Kentucky Uniform Residential Landlord and Tenant Act, KRS 383.500 thru 383.715.  Most of the river cities have enacted the Act i.e. Covington, Newport etc.

Hope this helps.