Key points include:Security Deposits: In Indiana, there’s no legal cap on security deposits, but you must return the deposit (minus any valid deductions) within 45 days of the tenant vacating the property.Evictions: Follow the formal process carefully.

We also received a $2400 security deposit.

Hey @Thanh Lu, we don't do much direct bookings but we do have a $500 security deposit.

I have a separate interest bearing account for security deposits as required by my state laws.

WOW.. 40k plus deposits on a home to be built.. ??? 

You’re not using a PM, AND you’re assuming you can charge a service animal a deposit and pet rent?

The law does NOT apply to landlords:With less then 5 rental unitsThat live in one unit of a duplex and rent out the other unitThat rent out rooms in the home they occupySo, landlords can no longer state in their rental ads, "Section 8 not accepted".The reverse is also true, "Section 8 only", cannot be used.We've always recommended screening S8 tenants the same way as cash-paying tenants.Landlords waiving application fees and/or security deposits only for S8 prospects may also be violating Fair Housing.

  $2500 deposit is put down. 

PM's will keep all late fees, they hold the security deposits so they collect all the interest on security deposits. 

If you really want to get rid of them, sweeten the pot by offering to return their deposit after you verify the unit is empty with no damages.