Tuesday, April 26, 2011

Why Charge Security Deposits and Are They Refundable?

A security deposit is used against damages to your apartment.   Rental property can be expensive to maintain.  The good news is that this cost is usually taken care of by the management company (check with them to see whether this is included!).  The reason you pay a security deposit is that the property management company has to pay someone to clean, paint and do any repairs to your apartment after you move out.  Because the next tenant moving in is going to expect to receive their apartment spic-n-span, you must leave the apartment in the exact same way that you received it to keep someone from having to spend money to make apartment ready.  Property Managers do not want to pay this cost, but neither do the tenants!  The best way to avoid having to pay too much money is to make sure that you clean your apartment according to the rental property's guidelines and also ask if there is any painting/carpet cleaning that you are required to do.

They management of the property you are renting can provide you with this.  Usually this information would be included in a "vacating packet".  Are Security Deposits Refundable?  Well, it depends on the lease terms.  Some of them are.  If you rent from us, it is.  We have seen many tenants receive 90-100% of their security deposits.  We are very up-front with you regarding what we expect at your walk-through inspection.  If you have any questions, please don't hesitate to ask.  That is what we are here for!


  1. If you own rental qualities, you will be gathering protection remains. A protection down payment is money given to a property owner to provide some protection to a property owner for damage to the leased property or for some other failing of a renter. State property owner renter regulations drive your law for the managing of the protection remains you gather.

  2. Are you getting reading to try to rent your first apartment? Don't know where to start? Well first get your information together. Get a copy of a rental application and fill it out. The apartment complex or landlord may use a different application. But if you complete one in advance you will have all your information handy.

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