return of security deposit

A security deposit is money a tenant pays to a landlord before moving in, serving as a safeguard against potential damages or unpaid rent. When the tenant moves out, the landlord reviews the property’s condition and accounting for any damages or unpaid amounts. If everything is in order, the deposit is refunded, usually within a specified period. Deductible amounts, if any, are itemized, and the remaining balance is returned. This process ensures both parties’ interests are protected: the landlord recovers costs if necessary, and the tenant receives their deposit back if they’ve maintained the property properly.