Security Deposit Refund

A security deposit refund is the amount of money a landlord returns to a tenant after the rental period ends, provided the property is left in good condition. It serves as a safeguard against potential damages or unpaid rent. Typically, the landlord deducts costs for repairs or unpaid bills before returning the remaining deposit. The refund process is often governed by lease agreements and local laws, which specify timeframes and conditions. To ensure a smooth return, tenants should thoroughly clean the property and document its condition before moving out.