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Why does a lease gives both the tenant and the landlord security?
A security deposit is a refundable deposit that a tenant pays to their landlord before they move into a property As long as a tenant abides by the terms of their lease, this deposit should be returned to a tenant when their lease has expired. There are certain situations where a landlord is allowed to keep all or part of a tenant's security deposit.
Should prepaid rent be deposited in security deposit account?
Some states have statutes which state that a security deposit cannot be comingled with the landlord's funds. Some legal scholars have concluded that, since the last-month-rent deposit is the landlord's funds, these cannot be in the same account.
What do you pay to the landlord before you move in?
To move into a dwelling, the landlord is going to generally ask you for the first month's rent, a security deposit, and often times the last months rent. Every state has its own rules about this and you should check with it. In South Carolina and Florida your security deposit may not exceed one month's rent. And in both states that security deposit may not be used as rent unless you and the landlord mutually agree.
If you rented property from the Realtor and now the owner of the property is not returning your security deposit who do you sue the Realtor of the owner of the house?
Look at the lease agreement. Whoever is listed as the landlord, that is who should return the security deposit.
Where to find a copy of the law that states the deposit can be used for the last months rent if your evicted?
Your state laws should have a section about "landlord and tenant" or the like. There are also many self-help books available about landlord/tenant laws. In Massachusetts, for example, the law defines both a security deposit and a damage deposit and ONLY the security deposit can be applied to delinquent rent, and the damage deposit remains the property of the tenant until the landlord proves damage to the premises and the costs to repair them.
If the landlord does not return the security deposit to the tenant where should you report in Massachusetts?
Usually to the county or municipal court. This is a small-claims case.
Does a landlord have a right to hold back a security deposit if the tenant dies?
Death of the tenant terminates the tenancy. The landlord should handle the security deposit according to the law, which likely means forwarding it to the estate. If rent is owed, the landlord could apply the deposit to the arrearage, and so notify the executor. There is an argument that the decedent owes rent for the next month (in a month-to-month tenancy) or the remainder of the lease (if there is a lease). However, the landlord has an obligation to try to rent the unit.
Does a tenant lose their security deposit if the landlord sells the property?
No, not simply by virtue of a sale of the property. However, the tenant must take the necessary steps to safeguard their deposit. Security deposits are a complicated issue and state and local laws may vary regarding how they are to be managed. The tenant should always make sure to obtain a receipt for the security deposit at the beginning of their tenancy and keep that proof in a safe place.Generally, a security deposit is supposed to be kept by the landlord in a separate account during the tenancy. When the tenant moves, the security deposit can be used to repair any extraordinary damage to the property apart from normal wear and tear. If the landlord wants to keep the deposit, they must provide a detailed accounting to the tenant that lists any damage and the cost to make the repairs and provide that statement within a certain time period, typically 30 days. If the landlord fails to follow state law then the tenant will be granted 2 to 3 times the original amount as a refund if they take the case to small claims court.When a leased property is sold and the tenant plans to remain in the rental they should discuss the security deposit with the departing landlord and make certain it is turned over to the tenant or the new landlord. They should obtain a receipt that documents this changeover.If you have further questions you should contact your local landlord/tenant agency.
What are your rights as landlord if no lease regarding security?
Basically speaking, whether there is a least written or not, if you, the landlord, accept a security deposit, you are obliged to return the deposit to tenant within 30 days of his moving out of the property. If the tenant has violated the terms of the agreements - they should be in writing - between the two of you, you have the right to keep the security deposit but you must write a letter to the tenant explaining why. The tenant has the right to take the matter to court if he feels the reason is unjust.
How to return the security deposit to the tenant?
To return the security deposit to the tenant, the landlord should inspect the rental property for damages, deduct any necessary costs for repairs, and then provide the remaining amount of the deposit to the tenant within the specified time frame as required by the rental agreement or local laws.
Can landlord use security deposit for last month of unpaid rent. then bill tenant for repair and cleaning?
It depends upon state law and what the agreement says (provided it does not actually contradict state law). For example, many states have a separate law for "security deposit" related to rent and "damage deposit" related to the costs of repairs or cleaning. In such a state it may be illegal for a landlord to seize a damage deposit to "cover the rent" if there was no invoice for "repairs" for damage.
Your rental had a flood due to a faulty plumbing fixture The landlord and you agreed your family will move out as soon as possible What are your rights concerning your security deposit?
your security deposit is for DAMAGES caused by the tenant. Note this is major damages (broken windows, holes in the walls), not normal wear and tear. This flood was caused by faulty plumbing, not the tenant, so the tenant's security deposit should not be effected by this. Therefore the tenant should get his security deposit back, unless there were damages caused by the tenant themselves (not by the flood).
