Under the Security Deposit Return Act, by what time must a security deposit be returned if there are no damages and the property has 5 or more units?

The correct timeframe for returning a security deposit under the Security Deposit Return Act when the property has five or more units is 45 days. This regulation ensures that landlords have sufficient time to assess the condition of the rental unit and determine if there are any damages beyond normal wear and tear. If the property is in good condition, the law mandates that tenants receive their security deposit back within this specified period. It is important for both landlords and tenants to adhere to this timeline, as failing to return the deposit within 45 days can lead to additional penalties or complications.

While some of the other options suggest different time frames, the 45-day requirement reflects a balance between allowing landlords enough time to inspect the property and protect the tenants' rights to their deposit.