Renters know that a security deposit is required prior to moving into a residence. Landlords use this money as incentive to care for the property and comply with the statements written in the lease agreement. These are the most common reasons for loss of the security deposit following the vacating of the property.
- Breaking lease terms – Specific instructions in the lease are provided as guidance for the tenant. Non-compliance with these statements provides grounds for the landlord to keep the security deposit. All tenant decisions should be preceded by review of the lease terms.
- Property damage – Normal wear and tear is covered in the lease and expected by the landlord. Intentional damage of walls, doors and windows will be charged to the tenant.
- Insufficient cleaning – Tenants are expected to clean the entire residence thoroughly. Expenses incurred by the landlord to clean will be charged to the tenant.
- Not returning key – Failure to give the key back to the landlord is cause for some portion of the deposit to be kept.
- Skipping the final walkthrough – A final inspection of the property is required to agree with the landlord that the property is in good condition.
- Not leaving a forwarding address – Landlords have 60-90 days to return the deposit to the former tenant. People who do not leave an address will find that the landlord does not search for them.