The deposit that requires double refund in the United States is typically a security deposit for rental properties. This is because landlords are legally required to return the security deposit in full, minus any deductions for damages or unpaid rent, within a specified timeframe, often 30 days after the tenant moves out. If the landlord fails to comply with this requirement, the tenant may be entitled to double the amount of the security deposit as compensation.

This double refund policy is rooted in the legal protections provided to tenants under state and federal laws. For instance, the Uniform Residential Landlord and Tenant Act (URLTA) and the Fair Housing Act both outline the rights and responsibilities of landlords and tenants regarding security deposits. According to the URLTA, a landlord must provide a written itemization of any deductions from the security deposit within a certain period, typically 30 days. If the landlord fails to do so, the tenant may claim the full amount of the deposit as compensation.

Data from the National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA) indicate that security deposits are a common practice in the rental market. In 2020, the average security deposit for a one-bedroom apartment in the United States was approximately $1,050. This highlights the significant financial impact of security deposits on both landlords and tenants, making it crucial for landlords to adhere to refund policies to avoid legal disputes and potential double refund claims.

Moreover, the Consumer Financial Protection Bureau (CFPB) has issued guidelines on security deposits, emphasizing the importance of transparency and fairness in the deposit process. These guidelines further reinforce the legal obligations of landlords to return security deposits promptly and in full, or face potential double refund claims.

In conclusion, the deposit that requires double refund in the United States is the security deposit for rental properties. This policy is in place to protect tenants from unfair practices and ensure that landlords comply with legal requirements regarding the return of security deposits. Data from industry reports and regulatory agencies underscores the significance of this policy in maintaining a fair and transparent rental market.