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>Renting
Laws >Security Deposits SECURITY
DEPOSITS
A Security Deposit is a payment made to the landlord (amount should be specified in your Lease) for the purpose of securing the landlord against financial loss because of damages made to the property by the tenant’s occupancy (other than ordinary wear and tear). If the tenant does not create any damages other than normal wear and tear, the Deposit is returned to him/her after s/he has moved out. Once you have paid a Security Deposit, YOUR LANDLORD MUST PLACE THE SECURITY DEPOSIT IN A BANK ACCOUNT used only for that purpose, and INFORM YOU OF THE LOCATION AND NUMBER OF THE ACCOUNT. FYI – “normal wear and tear” is not defined in the Landlord Tenant Act, but it is understood that a landlord can expect to have to repaint and clean carpets periodically. Furniture normally gets worn with use. Carpets and draperies will fade due to normal wear and tear. If there is serious question over whether an apartment has received more than “normal wear and tear,” a court of law will ultimately have to decide based on the evidence presented. For this reason it may be a good idea to take pictures of your apartment and to take other precautionary measures, see Protect Your Deposit.
Click on the links below for more on these topics: How to Get Your Deposit Back How to Make a Damage List How to Protect Your Deposit |
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