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When the deposit is under an insurance-based scheme, the landlord or the letting agent will hold the deposit but have to pay a fee to ensure the landlord will not illegally retain the deposit at the end of the tenancy. If at the end of the tenancy the landlord does not release the deposit, the insurance will pay back the tenant.
Remember, they own the place, not you. Read your lease. Most lease agreements lay out specific requirements that need to be met in order for the tenant to get a security deposit refund on move-out ...
The security deposit is often handled as an escrow deposit, owned by the tenant, but held by the landlord until the premises are surrendered in good condition (ordinary wear and tear excepted). In some states, the landlord must provide the tenant with the name and account number of the bank where the security deposit is held, and pay annual ...
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 landlord's deductions from a tenant's security deposit must be reasonable. The landlord may make deductions for missing rent payments and for damages beyond ordinary wear and tear, which is the subject matter's depreciation or deterioration in value by reasonable and ordinary use by the tenant.
Of those, 36 involved deposit returns. New law goes into effect. A new piece of state legislation dealing with the issue of unfair deposit withholding was signed into law on Tuesday by Gov. Jay ...
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