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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 .
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 ...
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.
There is typically an implied, explicit, or written rental agreement or contract involved to specify the terms of the rental, which are regulated and managed under contract law. Examples include letting out real estate (real property) for the purpose of housing tenure (where the tenant rents a residence to live in), parking space for a vehicle ...
A new piece of state legislation dealing with the issue of unfair deposit withholding was signed into law on Tuesday by Gov. Jay Inslee. The bill, HB 1074, limits landlords’ ability to withhold ...
5-Day Notice to Vacate - Nuisance Drugs: If a landlord receives a "drug nuisance letter," the tenant is required to vacate the property within five days with no right to cure.
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