As a tenant when you want to ask for a refund of your security deposit you should be polite and it is best done in a written form of communication. Writing a letter that asks for security deposit is quite challenging if you do not know how to do it. More...

Calculate Interest On Security Rent Deposits

Security deposit is meant to recover the cost that may arrive due to damage caused by regular use of the house by tenant or in case a tenant leaves the house before the agreement period resulting into unpaid rentals or can be for late charges. In some instances depending on the lease agreement few other fees like utility bills and cleaning charges are also deducted from security deposits.

The security deposit earns very little in terms of interest each year, it varies from one year to the next. The rate of interest is never fixed. The tenant should give the security deposit to a landlord in the form of check or by money order and should keep a copy of the same for records. Different states have varying laws pertaining to security deposit in some states the landlord is supposed to credit the security deposit along with interest earned each year to their tenants.More...

Getting Security Deposit Back

The security deposit is meant to recover the financial loss or damage occurred to a landlord due to tenant’s fault. Of course the landlord cannot keep back your security deposit for regular wearing away of certain items like carpet, chipped paint, worn out furnish on a wooden floor and discolored painting. Also, in circumstances where the apartment or the house you have rented gets damaged by some natural means like fire, storm, floods or a gangster, then you need to inform the landlord immediately. And, also keep the police informed. The landlord then cannot charge the tenant for the repairs or deduct money from the security deposit. More...

Landlord And Breach Of Security Deposit

Security deposit is the amount that a tenant has to pay to his landlord other than the rental money. A landlord has to give back the security deposit to his tenant upon termination of the lease agreement. Security deposit is the amount that is meant to recover the losses incurred to the property due to misuse by a tenant. It does not, however, include the regular wear and tear of the items.

These include minor chipping, fading away of wall color, scratches in the cabinets, distortion of doors and windows, accumulation of dirt on the carpeting due to heavy concentration of traffic in an area. Apart from this, any regular damage that happens due to aging would not be considered for recovery from the security deposit. Any damage caused to the rental property due to any natural means like fire, burglary, storm or floods is not deducted from the security deposit. More...