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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 ...
Renting an apartment or any type of residence is relatively simple. You discover a vacant unit, call to arrange a showing, fill out a rental application, sign and write a check for the deposit ...
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 .
Even if the deposit is registered or the prescribed information is given at any time after the 30-day window the tenant still has a right to make a claim. The claim will be for the return of the full sum of the deposit along with a penalty of between one and three times the sum of the deposit, to be awarded at the discretion of the Court.
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 .
Most renters expect a refund on their security deposit when they move out of their apartment (save for those who have completely trashed the place). But a hefty percentage of renters aren't ...