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What is the maximum allowable security deposit? The landlord shall hold a security deposit or prepaid rent for the tenant who is a party to the rental agreement.Every landlord will want to collect a security deposit before handing over the keys to a rental property. Rental housing code standards program information for landlords and tenants. Landlord and Tenant Resources, Oregon State Bar Landlord and Tenant Resources, FAQs. Open bankruptcy, money owed to prior landlord (not from the Protected Period) with no agreement to pay automatic denial. Prior Rental History All deposits are refundable. In Oregon, there is no such thing as a "non-refundable deposit.