Landlord-Tenant Issues

How are security deposits refunded when one of the tenants remains at the apartment and the other is moving out?

123

Answer

User Avatar
Wiki User
05/07/2008

usually the security is refunded at the end of the lease term. If one tenant moves out before the end of the lease, he'll have to wait until the end to get his security back. If the lease is up and one tenant moves out and the other one stays, the initial security payment should be refunded then and the tenant who stays should sign a new lease and put up a new security deposit.