North Carolina landlord rules: deposits, late fees and notices

Security deposit

Maximum deposit

1.5 months' rent

Return deadline

30 days after the tenancy ends

Penalty for late return

none specified

Interest owed

No

Note

1.5 months MTM, 2 months for longer terms; deposit must sit in a NC trust account or be bonded; 60-day final accounting allowed when damages are still being assessed

Work out the return date for a move-out

Source: N.C.G.S. §§42-50 to 42-56

Late fees

Rule

greater of $15 or 5% of rent

Grace period

5 days

No statute cited in our data

Notice periods

Notice to pay or quit

10 days

Ending a month-to-month tenancy

7 days

Notice before entering a unit

Not in our data

Work out the last day of a notice

No statute cited in our data

Screening

Source-of-income protection

Only where a local ordinance adds it.

No statute cited in our data

Licensing

To manage for others

A real-estate broker license, to manage property for others.

No statute cited in our data

How long an eviction takes

Moderate: about 1 to 2 months. This is a rough tier from our data, not a court timeline.

Also worth knowing

• 7-day month-to-month termination notice - the shortest in the nation

A federal rule that can override this

Notice for nonpayment on covered properties

30 days

Note

Applies to 'covered properties' (federally backed mortgage or federal housing program). The 30-day notice requirement has no statutory sunset and courts are split - safest practice is a 30-day nonpayment notice on any covered property, regardless of shorter state timelines.

Source: CARES Act §4024