Security Deposit Alternative in Wyoming
Wyoming sets no ceiling on a deposit and lets part of it be nonrefundable, provided the rental agreement says so and the resident gets written notice of it when the deposit is taken. The return deadline is 30 days after the agreement ends or 15 days after you receive the resident's new address, whichever is later, with another 30 days if there is damage to the unit. Deductions cover unpaid rent, damage beyond reasonable wear, cleaning to move-in condition, and other costs the contract provides for, all itemized in writing.
What Wyoming law says about security deposits
Read from the Wyoming statute on 2026-09-14. Deposit rules change, and this is general information rather than legal advice. Confirm the current text with your own counsel before you change a lease.
Can you require it of every Wyoming resident?
Wyoming has no statute written for a monthly fee charged instead of a deposit, so the arrangement rests on your lease and the general deposit rules. Two sections matter. Section 1-21-1207 says a rental agreement must state whether any portion of a deposit is nonrefundable, and the resident must also get written notice of that when the deposit is taken. Section 1-21-1208 sets no maximum and governs the return. After the agreement ends, the deposit may be applied to accrued rent, damage beyond reasonable wear, cleaning the unit back to its move-in condition, and other costs the contract provides for. The balance and a written itemization of deductions go to the resident within 30 days of termination or 15 days after you receive their new mailing address, whichever is later, and the period extends by 30 days if there is damage to the unit. The resident has 30 days after termination to tell you where to send it. An owner who unreasonably fails to comply lets the resident recover the full deposit and court costs.
Rules differ by state and by city, and subsidized housing is its own question. This is general information for property managers, not legal advice. Get a written opinion before you make the fee a condition of tenancy anywhere.
How the program works in Wyoming
The mechanics are the same in every state Beagle operates in. The program is designed to comply with applicable state and local regulations, and the rate is set by the deposit amount rather than by geography, so a Wyoming property and one two states over are quoted the same way.
The resident chooses at signing
Instead of producing the full deposit, the resident pays a smaller non-refundable monthly fee that is billed with rent. Nothing is held, so nothing has to be returned.
The property keeps its protection
Damage beyond normal wear is reimbursed up to the deposit amount the unit would otherwise have required, so what you can recover does not shrink.
Move-out stops being a negotiation
A claim is filed against the program rather than deducted from money you are holding, which takes the itemised-deduction letter and the dispute that follows it off your team's desk.
You earn on every resident who takes it
You set an administrative fee on top of the premium, up to $5 per unit per month, and keep it.
Wyoming security deposit alternative FAQs
Wyoming has no statute answering that, so a mandatory version is a question for your own attorney. Section 1-21-1207 already requires any nonrefundable portion of a deposit to be stated in the agreement and in a written notice at the time it is taken, so that disclosure is where a review of a nonrefundable monthly fee should begin.
See it on your Wyoming units
Run the program against your own unit count, or walk through it with our team. No upfront fees, no onboarding charges, no long-term contracts.