Tenant Rights Security Deposit
When a tenant leases or rents an apartment or other types of rental property, they will often be required to pay a tenant rights security deposit amount to the landlord. This amount is a form of assurance for the landlord who will be able to hold back or deduct the amount for any repair expenses that might be caused by the tenant while they stay at the apartment. Also, tenant rights security deposit amounts can be used to pay off back rent as well.
Many tenants around the country are often unaware of the various tenant rights security deposit clauses that are applicable in a rental contract. The following paragraphs will get into some detail about theses different clauses.
How much security deposit can be collected? – tenant rights security deposit – In most states, a maximum of one month can be collected as tenant rights security deposit by the landlord although there are some states that will allow a landlord to collect a tenant rights security deposit that is equal to two months of rent. If the apartment is furnished or if the tenant is going to have pets in an apartment, some states will allow the landlord to collect even three months of rent as a tenant rights security deposit amount. However, the rental law in most states will not allow a landlord to collect a non refundable security deposit as it is against the law for landlords to do so. Security deposits are always refundable although they are deductible, as mentioned below.
How is the security deposit amount refunded to the tenant? - tenant rights security deposit – Once a tenant leaves an apartment or rental unit, the landlord will inspect the premises to check for damage or repair. In some states, the tenant will be able to be present for such an inspection. If the landlord feels that the tenant has damaged the apartment, he or she might deduct repair expenses from the tenant rights security deposit amount. However, landlords are not authorized to deduct expenses that are related to normal wear and tear. If deductions are being made to the tenant rights security deposit amount, the landlord will be obliged to provide a written and itemized bill that will need to explain the various deductions to the tenant rights security deposit amount. It will need to include invoices for materials purchase and also list the cost of labor.
How long can the landlord take to refund the tenant rights security deposit amount? - tenant rights security deposit – Generally, the landlord can take about 15-45 days to refund the security deposit amount. The time period to return the tenant rights security deposit amount will depend on the state where the rental contract is applicable as all 50 states have their own interpretations of rental law. If one wanted to find out the maximum permissible time period for a tenant rights security deposit amount refund, they will be well advised to check the other pages in this website or even go through the rental handbook of their state.