Making Sure You Get Your Security Deposit Back

17 August 2017
 Categories: Real Estate, Blog


When you rent a place, you will sign a lease that spells out what is expected of you, what are the responsibilities of the landlord and other important rules and dates regarding the rental. When you move into a rental unit, whether it be a house, apartment, or other type of swelling, you will also have to put forth a security deposit.

This security deposit acts as insurance to the owner that you will do your best to keep the place in good shape. If you return the keys to them with the place in good shape, you get your deposit back. If there are some damages, then the cost of repairing those damages will be taken out of the deposit and the remainder will be returned to you. If you have destroyed the place, then they will keep the whole deposit and can sue you for the rest. It's best to get back as much of your deposit as possible. Not only does it save you money, but it also looks good to people considering renting to you in the future to see that you have received your complete deposit back in the past. Here are tips to ensure you get as much back as possible:

Know the terms of your lease well: Of course, you want to read every word of your lease before you sign it. However, there is usually a lot in leases and this can make it easy for you to forget some small details as time goes on. You should review your lease every now and again and highlight any areas of concern that you fear you will forget that can spell possible trouble for you down the road.

Take pictures of the dwelling: The manager should give you a checklist to go through the place with where you will mark down anything that's wrong with it upon move in. You will have so many days to return this list to them with your signature. This will protect you from getting charged for damages that were already there when you moved in. However, it's also a good idea for you to make your own record via pictures. These can show the actual extent of any damages that were already there. You will also want to take pictures of the place after you have moved your stuff out so you can show exactly how you left it.

Give proper notice: Remember that your security deposit is a deposit, it is not last month's rent. Make sure you give your manager 30 days notice and pay the rent for that month. This way, you will stay in good standing with the manager and should be eligible to receive back your deposit.

For more information, contact companies like National Property Management Group.