Security Deposits
- A security deposit usually equals one or two months rent.
- The landlord is required by law to place your security deposit in escrow for the length of the lease. Therefore, insist that your deposit be placed in such an interest bearing escrow account and get a copy of the deposit slip.
- The landlord is required by law to return your security deposit or give a written list of the claimed damages within 30 days of the end of the lease. After 30 days the landlord loses the right to withhold any of the deposit.
- To protect your security deposit, carefully inspect the property before you move in. Digitally record, photograph and make a written list of the condition of the unit. Date and sign the list. Send one copy to the landlord and keep a copy for your records.
