When Can A Landlord Keep A Security Deposit ?

line
 

 

line

When Can A Landlord Keep A Security Deposit ?


Apartment Listing  

If the landlord and the tenant have agreed to sign a lease contract, both the parties have some amount of rights over the other. As a tenant, you have to pay a security deposit to your landlord before moving in to the apartment. The amount of deposit varies from one State to the other. On an average, one to two months of rent money can be charged as security deposit.

Always remember to pay the security deposit by check instead of paying by cash. Keep the receipt safely. You have to produce the receipt to collect get your deposit back when you decide to move out.

A landlord has all rights to withhold the security deposit under the following conditions:

  • If there has been extensive damage to the interiors and exteriors of the house beyond the normal wear and tear. This includes damages to the doors, windows floorings, etc.
  • If the tenant has decided to move out of the place, he/she should inform the landlord in advance. If the tenant fails to issue a prior notice to the landlord, the latter can keep the security deposit until he finds a new client.
  • The landlord has the right to use the deposit for repairing the interiors which were damaged during your stay.
  • If the damages require more money than your security deposit, the landlord can use the entire security deposit and charge extra money to cover up for the losses.
  • The landlord can also use the money if you have failed to pay the rent on time.

However, if you have adhered to all the rules and conditions, you can get your security deposit within a period of one to two months. If your money has been used for repairing the interiors or the exteriors, you can always ask for a detailed bill account showing the amount used up for each repair.

More Articles :

When Can A Landlord Keep A Security Deposit ?

 
line
money

Credit-Checks-For-Tenant-Screening      It is vital to check the credit history of the prospective tenant before allowing him to rent your property. A credit check will give you adequate information about the person’s financial status, his history and his ability to pay the rent on time. It will also help you ascertain whether there have been any cases of bankruptcies against his name. More..



 
line
bottom
 • Home  •Commercial Real Estate  •Foreclosure  •Moving   Packing Property Taxes
 •Termite •Interior DesignRenting Laws Privacy Policy Contact


© 2010 Apartmentlisting411.com, All Rights Reserved.
When Can A Landlord Keep A Security Deposit ?