Whenever you sign a lease for an apartment, you are asked for three things: references, first month's rent and a security deposit. Usually, a security deposit will match your rent amount or be slightly higher than the rent amount. There's no use to getting upset about a security deposit because your landlord has every right to ask one of you when you sign the lease.
You probably wonder why a security deposit is even necessary. Here are some things you should know before you sign your name on a lease and move all your belongings inside of the apartment, house or condo.
What Is Your Security Deposit Supposed To Do?
Anytime you rent a home, apartment or condo, the landlord will ask of you, the tenant, for a security deposit that's to ensure the landlord is protected. For instance, if you don't make your rent payment by a certain date or you need to break the lease for any reason, your landlord can hold onto the deposit to make sure he/she has no loses. If you should damage the rental unit, the landlord can use some or all of the money to make the necessary repairs.
In the event, the landlord must retain some or all of your security deposit, he/she must given a written, detailed account as to why it was being held. For instance, damages done inside the home must have a detailed account to the expense of the damage, thus proving why money was being withheld.
What Your Security Deposit Is Not Supposed To Do
Many times a landlord will try to retain a security deposit after you move out because often times, many people don't know what their rights are in matters such as this. Don't let this happen to you. You need to get educated about your rights, your landlord's rights and the rental property.
What does a security deposit not cover? It doesn't cover the normal wear and tear of the home including paint peeling, broken old appliances, dirty carpet, etc. When normal wear and tear occurs, the landlord must deal with it, not your security deposit.
The majority of the states have laws that stipulate that the landlord must return the security deposit to the tenant within 30 days after you move out. If you are unsure what your state laws are in this matter, look up your state's laws. You should know the timeframe in which your security deposit is supposed to be returned to you.
Prepare Yourself For Disputes
It's not likely that you'll go to court over your security deposit. However, if the 30 days comes and you still have not received your security deposit with any explanation as to why, then you'll want to file a claim.
Before you leave, get documentation to the condition of the home. If you can, get pictures of any and all of it. When you get pictures, the judge overseeing the dispute can get a visual idea of any damage or condition to the apartment.
You don't know if you'll be one of the unlucky ones to get a landlord who is downright dirty and keep your money. However, it's best to protect yourself in case you run into one of these kinds of landlords. Remember the saying: better safe than sorry.
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