Money security concept

Security deposits are inevitable when renting. The cost of them and policy about them vary from property to property. A good rule of thumb is that it is a deposit of money to the landlord to ensure that rent will be paid and other responsibilities of the lease will be performed These other responsibilities could include paying for damage that is caused by the tenant  of if the tenant would break the lease, it will cover the landlords expenses. Security deposit laws vary from state to state. It is very important to keep this in mind when moving out of state. Generally, a Security Deposit is about the same amount as a month’s rent. To find out how your future landlord will handle security deposits, it is important to ask him or her directly about it. Also get the policy in writing so you have it for your records.

If you follow the landlord’s rules and do not cause any damage to the property, you will most likely get the whole amount of the security deposit back at the end of the lease term. Some ways to make sure that you get the whole amount back include: not making holes in walls, replacing light bulbs, contacting your landlord right away if an appliance causes any water damage to the property, and cleaning up after pets if you have one on the property.

Sometimes, security deposits take a few months to come back to you after you move out so be patient. You will get the money back, it might just take longer than you were hoping depending on the landlord’s policies.

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