What Is a Security Deposit?
A security deposit is a sum of money paid before move-in, held by the landlord as protection against unpaid rent or damage beyond normal wear and tear.
How It's Typically Used
Deposits are commonly applied toward unpaid rent, repair costs for damage beyond normal wear, and cleaning if the unit is left in poor condition. Normal wear and tear — things like minor scuffs or faded paint from sunlight — is usually treated differently from damage.
What Affects the Amount
The deposit amount is usually set by the landlord at signing and is often expressed as a multiple of monthly rent. It can vary based on the property, the market, and tenant factors like credit history.
Getting It Back
Most leases describe a process and timeline for returning the deposit after move-out, often tied to a walkthrough inspection. Keeping move-in and move-out photos makes this process much smoother.
Related Terms
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