Under South Dakota law, what must both landlords provide tenants regarding security deposits after terminating a lease?

In South Dakota, when a lease is terminated, landlords are required to provide tenants with an itemized statement detailing any deductions made from the security deposit. This requirement ensures transparency in the handling of security deposits and protects tenants' rights by clearly outlining the reasons for any withheld funds. An itemized statement typically includes specifics about damages, unpaid rent, and other applicable charges, allowing tenants to see exactly how their deposit was allocated.

This legal requirement is in place to promote fairness in the rental process and helps to avoid disputes over security deposits after a lease ends. Tenants have the right to understand the financial interactions that took place during their tenancy, and the itemized statement serves as a crucial documentation of this.

The other options do not pertain to the legal requirements concerning security deposits. A written lease agreement is important for initial rental terms but is irrelevant once the lease has terminated. Proof of property management is not necessary regarding security deposit procedures, and a summary of the rental history, while potentially useful in other contexts, does not fulfill the specific obligation that landlords have towards security deposits. Therefore, providing an itemized statement is the correct aspect of South Dakota law concerning the management of security deposits upon lease termination.