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March 18, 2013

Renting a Home

Security Deposits

Under what conditions does the landlord owe a refund of the security deposit?

The landlord will owe the tenant at least a partial refund if the rent was paid in full and the cost of repairs was not beyond normal wear and tear.

>>What is a security deposit?
>> What does the lease say about security deposits?
>>Are deposits for cleaning, pets, parking, or garage door openers considered security deposits and, thus, refundable?
>>Must landlords hold security deposits in a separate bank account apart from other assets?
>>Does the landlord have to pay interest on deposits?
>>Under what conditions does the landlord owe a refund of the security deposit?
>>What should the tenant do if the landlord does not refund the deposit or refunds what the tenant believes is too little?


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