Security Deposit
A security deposit is a sum of money that a tenant pays to a landlord before moving into a rental property. It serves as a form of security for the landlord against potential damages, unpaid rent, or breaches of the lease agreement. Typically, the amount is equivalent to one month's rent or a specified percentage. At the end of the lease, if everything is in good condition and the terms are met, the landlord returns the deposit to the tenant, minus any legitimate deductions for repairs or unpaid charges. This protects both parties in the rental arrangement.
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A security deposit is a sum of money that a tenant gives to a landlord before moving into a rental property. It acts as a financial safeguard for the landlord against potential damages or unpaid rent. If the tenant fulfills their lease agreement and leaves the property in good condition, the deposit is usually returned at the end of the lease. However, if there are damages or unpaid bills, the landlord may keep part or all of the deposit to cover those costs. This practice helps protect both parties' interests in a rental agreement.
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A security deposit is a sum of money paid by a tenant to a landlord before renting a property. It serves as a financial safety net for the landlord in case the tenant damages the property or fails to pay rent. Typically, the amount is equivalent to one month's rent. If the tenant leaves the property in good condition and meets all rental obligations, the deposit is usually refunded after the lease ends. However, deductions may be made for damages or unpaid rent. This protection helps ensure responsible behavior from tenants and safeguards the landlord's investment.