When renting an apartment, one common concern is the return of your security deposit. Landlords hold a good chunk of your money in case you damage the premises, but they can only use that money if they provide you with an adequate explanation why. Niccole Schreck, writing for US News, explains why:
More than a third of the renters surveyed who did not get back their deposits (36%) said the landlord gave no explanation-which is actually illegal in 47 states. Unless you live in Louisiana, North Carolina or West Virginia, your landlord is required by law to give you a written account of charges to your security deposit. Specific laws vary by state and sometimes by county, so make sure you know your rights as a renter in your community. Unless your landlord can show you a specific damage assessment, with a cost that meets or exceeds your security deposit, the security deposit is your money-make sure you take it with you on your way out.
If your landlord ever takes your security deposit, or any portion of it, be sure they include an explanation. If you want to contest the claim, you'll have a much easier time if they provide you with the required documentation. If they don't, they're breaking the law in most states and you should have no trouble getting a court to return the portion of your security deposit that you're owed.
4 Tips to Ensure You Get Your Security Deposit Back | US News
Photo by Christopher Kolaczan (Shutterstock).
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