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Nearly all rental property owners or management companies require that tenants pay a security deposit. Typically set as one month's rent (or more), the deposit is meant to cover a landlord's ...
In California, there are only four reasons why a landlord may withhold a security deposit: to cover unpaid rent, to clean the rental when a tenant moves out, to repair damages caused by the renter ...
For instance, renting requires a security deposit. The security deposit is typically equal to one month’s rent or less, but it can sometimes be more. ... Good To Know: 10 Hidden Costs of Buying ...
A security deposit is a sum of money held in trust. [1] In leasing, security deposits, also known as "rent deposits", [2] are required most often by lessors of automobiles, residential property, and commercial real estate. [1]
However, it is legal to require a security deposit when renting out an apartment or house. [8] It is rarely done when a commercial or public landlord is renting out an apartment to an individual, since it is easy for the landlord to get any debts collected. When individuals rent out to other individuals, or when businesses rent commercial ...
A damage deposit or deposit is a sum of money paid in relation to a rented item to ensure it is returned in good condition. They are particularly common in relation to rented accommodation , where they may also be referred to as a tenancy deposit , bond deposit , [ 1 ] or bond .
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