Posts tagged ‘Security Deposit’



It is always a point of contention; once you have moved out, you expect to get your security deposit back in full-just as you gave it to the Landlord. On move out day, you take a look around your now former apartment. Everything looks good. Well, maybe a small mark on the wall here and there. And maybe you could have cleaned out the refrigerator a little better. But hey it does not cost that much to make an apartment nice again. Does it?

One of the hardest costs for Landlords to absorb is painting. On the open market, try finding a painter who could repaint your apartment for less than $500! Fortunately, apartment complexes typically have in-house maintenance staff that can do the work for less than market labor value. The costs are, more than likely, even less to the Tenant. Still, Landlords are stuck with having to absorb materials costs which remain the same regardless of any particular circumstance.

So if you have made many marks on walls, have a child(ern) that has used something other than a water soluable substance on walls, or just been careless with hanging things and moving furniture around, then chances are you will get hit with a full paint-out bill. After so many marks and scratches, it is no longer worth it nor all that possible to do a “touch-up” job.

Some common ways to mark up walls include:
headboards from beds sofas pressed snug against walls televisions pressed closely to walls (for cathode ray tubes) dogs and cats scratching or rubbing against corners children throwing toys or playing off walls rearranging furniture, especially in the living room and bedroom buying new furniture-especially when you first move-in. It is easy to forget that from day one if your movers are not careful or you are not, you could have many marks and scratches. Another cost is floor cleaning. If there is hardwood flooring involved, and you were not that careful moving in or moving out your furniture, it can cost anywhere from $1 to $3 per square foot just to sand and refinish! Simply putting another coat of polyurethane can do the trick, however, if the damage was extensive, it will bleed through and look bad for the next Tenant-who may even get blamed for some one else’s damages! Also, if there are pets involved, this is particularly risky to the Landlord. Unlike carpeting, getting urine and urine and ***** smells out of hardwood flooring is extremely difficult.
Of course, the extreme measure is to replace the parts of the floor that are really bad. That can get a bit pricey plus make the flooring look uneven and nonuniform.

For carpeting, it is much easier to maintain and clean even though the wear is faster. As a Tenant, it can be worth it to you to find a professional carpet cleaner. Typically, you can find one for between $80 to $300. If you leave it to the Landlord, expect to be charged. When you move out, it is easy to forget that the apartment was cleaned and prepared for you, and the Landlord owes that courtesy to the next Tenant.

So next time you are wondering why you have not gotten that security deposit back, remember the two biggest costs to reviving the apartment, put yourself in the Landlord’s shoes, and then start calculating.



By: John Tabatali

About the Author:
Jon T. manages Summit By the Lake Apartments located in Scranton, Pennsylvania.





“When you rent an apartment, you will most likely be asked to pay a security deposit. In many cases, the security deposit is equivalent to one month’s worth of rent, though it might be more. Your landlord is within his or her rights to request that you pay a security deposit, but there are several things you should know about the security deposit before you sign a lease agreement and move into your apartment.

What is the Security Deposit For?

When you rent an apartment, you will likely be asked to pay a security deposit in order to protect the landlord. If you fail to make your monthly payment or if you break your lease, the landlord may be able to keep your security deposit in order to recoup the loses he or she experiences. Similarly, if you cause damage to the apartment before moving out, your landlord can keep the money or a portion of the money in order to make repairs to the apartment.

If the landlord does keep all or a portion of your security deposit when you move out, he or she must provide you with a detailed account of why the money was retained. For example, if you caused damage to the apartment, the landlord must detail that expense and demonstrate why the money was retained.

What is a Security Deposit NOT For?

Some unscrupulous landlords will attempt to keep a security deposit when a person moves out of the apartment, and some get away with it because their former tenants simply do not know their rights.

One thing that a security deposit is not for is wear and tear. If the dishwasher in the apartment needs to be replaced because it has worn out or the walls need to be repainted because the paint is getting dull or discolored, you are not expected to pay for these expenses.

In most states, landlords are required to return a security deposit within 30 days after the tenant moves out of the apartment. It is a good idea to check with your state if you are uncertain about the timeframe your landlord has.

Preparing for Disputes

If your 30 days has come and gone since you moved out of the apartment and your landlord still has not returned your security deposit, it may be time to file a claim in small claims court. In order to prepare for this possibility, you should always document the condition of the apartment before you move in as well as at the time you move out. Taking photographs is also a good idea as this will give the judge a visual idea of the condition of the apartment both before you moved in and after you moved out.

Although no one anticipates having difficult with getting their security deposit back when moving out of an apartment, it is always a good idea to plan for the worse situation. That way, you will be protected regardless of the situation.”



By: Eric Bramlett

About the Author:
Eric Bramlett is the Broker and co-owner of One Source Realty in Austin Texas. He has seen considerable success in real estate, and looks forward to many more years in the business. Eric currently invests, renovates, and develops real estate in the Greater Austin Texas Market. He spends his time working with select clients, helps his new agents get started in their real estate careers, helps his experienced agents progress their careers to the next level, & when he has time…he takes his dogs to the lake. Visit Eric’s Austin Texas Real Estate Guide & visit his Austin Texas Real Estate company’s website. Downtown Austin Condos & Lofts





If you love the water and are looking for a unique way to spend some time on it, renting a houseboat is a great way to spend your next vacation. You’ll be sailing down a river or on the briny sea without a care in the world and all the comforts of home.

A standard houseboat comes complete with a fully equipped kitchen – stove, refrigerator, pots, pans, etc. They also usually have a gas grill so that you can cook on the deck if you choose. There’s a bathroom and one or two (sometimes more) bedrooms. Everything is compact and built in, giving you plenty of room to relax and enjoy travel time. When you dock, you just start unfolding and couches turn to beds, etc.

Some may thing that renting a houseboat is inexpensive. Unfortunately, it can be quite costly – especially with the price of gas today. Depending on the size of the houseboat, a weekend trip usually runs around 90 gallons for the weekend and 150 for the week. The rental fee for a houseboat is usually a minimum weekend or weekly rate ranging from $300 for a weekend up. There is also a security deposit required before renting the boat.

Some rental agencies allow pets on the houseboats, others don’t. Some will let pets travel free of charge, others will add an additional security deposit or a small fee.

Most houseboats travel during the day and anchor during the nighttime hours. You also need to keep a close eye on the weather to make sure you don’t get caught in a storm.

It is suggested to operate the boats only during daylight hours. The vacationers can check with the marina for guidance regarding the approved boating areas and weather forecasts. It is advised to board the houseboat at least one to two hours before departure and receive a complete orientation.

To guarantee rental, you should reserve your houseboat several months in advance. They are usually sold out by springtime.

By: Max Bellamy

About the Author:
House Boat Rentals [http://www.e-HouseBoatRentals.com] provides detailed information on House Boat Rentals, Lake Powell House Boat Rentals, Lake Cumberland House Boat Rentals, Florida Keys House Boat Rentals and more. House Boat Rentals is affiliated with Hilton Head Condo Rentals.



Chad N asked:


If you have moved into an apartment in Missouri and you have an oral agreement with no signed written lease, you must give a 30 day notice that you are terminating tenancy. If the tenant has paid a security deposit and gives the 30 day termination notice, is he or she eligible to get the security deposit back from the initial move-in?

I am vacating my apartment and was wondering what are the reasons a land lord can deduct money from my security deposit? what are the things I should keep in mind? my land lord is out of town and so what do i do about the walk through before leaving?
I live in NJ. Am I responsible for mold formation in the bathroom due to internal leaks?

By: nynj076

About the Author:



I have been living with one roommate and our lease is up in just a few weeks. I’ve already moved out, but my roommate is planning on staying in the apartment. What I’m wondering is, how safe this is to do with not getting the security deposit back right away from the manager. My roommate was a pretty trustworthy person, but I’m just a bit reluctant to have to count on him getting my share of the security deposit back to me once he officially vacates the apartment.

Has anyone done this?

By: Matt H

About the Author:



Elizabeth L J asked:


I moved out of my apartment four months ago. The lease ended on July 31 and my roommate never moved out. Therefore, we haven’t gotten our security deposit back. She’s not returning my phone calls, and clearly I’m owed my share of the deposit. I’m no longer on the lease. How can I get that money back?
She’s currently renting month-to-month at our old apartment, and she got another subletter. I never signed any extension of the lease or anything so there’s no reason she should still have my money. Both our names are on the original lease, however, that expired on July 31.

swmg789 asked:


I live in an apartment and I want to buy out the remainder of my lease. What percentage should I offer?
I signed a one year lease and there is 8 months left on the lease. There is approximately $4000 left on the lease. How much should I offer? Can I get my security deposit back if I buy out the lease?

Another person and myself were supposed to move into an apartment this coming school year. However, she has decided not to come back to school. We have both signed the contract already and both have turned in a security deposit. It says in the lease that if any tenant leaves the rental unit during the lease period that they are still responsible for their half. However, since we haven’t moved in yet, does this mean she is free of all fees?

By: Amy

About the Author:



vaneo1 asked:


I live in Los Angeles, CA in a rent controlled community and stayed there for a year and left on good terms. The apartment was left in somewhat better then average condition: nothing was left broken, the carpet was clean but was gonna be changed, and the walls repainted. As a renter how much of the cost do I need to pick up with my security deposit?
ok more details… I put in the required 30 day notice and did the final walk through with manager. I took pictures and nothing really seemed unordinary. The apartment is a small one bedroom about 685 sq. ft. I was mainly wondering what is the cast ration, am I obligated to 1/3, 2/3 or all of the cost??

 

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