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 Security
Deposit
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How much security can a landlord charge?
Upon move-in a landlord
may charge an amount equal to two months
rent
for an unfurnished unit. (Three months for a furnished unit.)
Therefore, where
there is an unfurnished unit renting for $600, a landlord may
charge a first month
rent and a $1200 security deposit for a total of $1800.
When
does the security deposit have to be returned?
The landlord has 21 days to itemize and return that
portion of the security
deposit, if any, to the
tenant. A written statement should be prepared and mailed to
the tenant. If you do not have the tenant's new address,
you must mail it to the unit
that the tenant vacated. If the
envelope comes back, do not open it. This will be the
best proof that you have complied with the law.
What
can be deducted from the security deposit?
You are allowed to deduct for the
following items:
1. Rent or
other charges owed under the rental agreement.
2. Reasonable cleaning
charges.
3. Unusual
wear and tear to the unit.
Be
conservative when making deductions from the security deposit. You
are
allowed to deduct for the cleaning of the drapes
and the carpeting. However,
you should not deduct for painting unless it constitutes
unusual wear and tear.
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