What can a landlord use a security deposit for?
A security deposit is a sum of money that a tenant gives to a landlord before moving into a rental property. It is essentially a form of insurance for the landlord in case the tenant causes damage to the property or fails to pay rent.
The security deposit can be used for the following purposes:
1. **Unpaid rent**: If a tenant fails to pay their rent, the landlord can use the security deposit to cover the unpaid amount.
2. **Damage to the property**: If the tenant causes damage beyond normal wear and tear to the rental property, the landlord can deduct the cost of repairs from the security deposit.
3. **Cleaning fees**: If the tenant leaves the property in a dirty or unkempt condition, the landlord can use the security deposit to cover the cost of cleaning.
4. **Missing items**: If the tenant removes items from the property that were supposed to remain, such as appliances or fixtures, the landlord can deduct the cost of replacing them from the security deposit.
5. **Utility bills**: If the tenant leaves without paying outstanding utility bills, the landlord can use the security deposit to settle these debts.
6. **Unpaid fees**: If the tenant owes any other fees, such as late fees or maintenance charges, the landlord can deduct these from the security deposit.
7. **Unfulfilled lease obligations**: If the tenant breaches any terms of the lease agreement, the landlord can use the security deposit to cover any resulting expenses.
8. **Legal fees**: If the landlord incurs legal costs due to the tenant’s actions, such as evicting them or pursuing damages, these fees can be covered by the security deposit.
9. **Rekeying locks**: If the tenant fails to return all copies of the keys to the property, the landlord may need to rekey the locks, which can be paid for using the security deposit.
10. **Repairing damage caused by pets**: If the tenant has pets that cause damage to the property, the landlord can use the security deposit to cover the cost of repairs.
11. **Pest control**: If the tenant’s actions result in a pest infestation in the property, the landlord can use the security deposit to cover the cost of pest control services.
12. **Unpaid taxes or assessments**: If the tenant fails to pay property taxes or homeowners’ association fees that are their responsibility, the landlord can use the security deposit to settle these debts.
By law, landlords must provide an itemized list of deductions along with any remaining balance of the security deposit to the tenant within a certain timeframe after the lease ends. It is important for both landlords and tenants to understand their rights and responsibilities regarding security deposits to avoid disputes.