HOW MUCH IS THE SECURITY DEPOSIT AND WILL I GET
IT BACK WHEN I LEAVE? - The Security Deposit varies with each
property and is usually around 90% of the rent. Sometimes it can be more and
sometimes it is less. It depends on the situation and the owners requirements.
Getting your Security Deposit back depends entirely on you. If you stick to
all the requirements of the lease, give proper notice, and leave the property
in a condition that we can immediately rent it with out having to do any repairs
or cleaning, then you should get your Deposit returned.
Here is the excerpt from the Lease Agreement as it pertains
to the Security Deposits
SECURITY DEPOSITS
LESSEE pays herewith as a security deposit the above stated sum. Upon lawful
termination of the tenancy by either party for any reason, the LESSOR may claim,
of the security, only such amounts as are reasonably necessary to remedy LESSEE
defaults in the payment of rent, to repair damages to the premises caused by
the LESSEE other than normal wear and to pay the reasonable costs of cleaning
in excess of the amount of any non-refundable cleaning charge as set above.
Should the LESSOR feel that the tenancy or property is at risk due to late payments
or other detrimental factors, LESSOR at his option can increase/adjust the Damage/Security
Deposit requirements. Should the LESSEE vacate the premises, or be evicted,
prior to the end of the term, or give improper notice, all security deposits
are forfeit. The excess portion of the security deposit not used as
set forth herein shall be refunded to the LESSEE according to law.
**This clause is
subject to change without notice. Be sure and read your lease agreement and
understand it in its entirety.
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