security deposit agreements

A security deposit agreement is a legal contract between a landlord and tenant that outlines the amount of money the tenant provides upfront to cover potential damages or unpaid rent. Typically, this deposit is held by the landlord during the tenancy and refunded, minus any deductions, when the lease ends and the property is returned in good condition. The agreement specifies the deposit amount, conditions for withholding or returning it, and applicable laws to protect both parties' interests. It helps ensure accountability and provides a clear process for handling security concerns related to the rental property.