A.R.S. § 33-2121: Security deposits

A. On termination of the tenancy, any security deposit may be applied to the payment of accrued rent, including utilities, and the amount of damages that the landlord has suffered by reason of the tenant's noncompliance with the law if the accrued rent and damages are itemized by the landlord in a written notice delivered to the tenant together with the amount due within fourteen days after termination of the tenancy and delivery of possession by the tenant.

B. The holder of the landlord's interest in the premises at the time of the termination of the tenancy is bound by this section.

C. The amount of any security deposit shall not be changed after the tenant executes the initial rental agreement.