Apartment On Deposit
Description
How to fill out Addendum To Apartment Lease Regarding Security Deposit?
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FAQ
A 2 month security deposit is an insurance policy for a landlord. If the tenant wants it back, they will leave the property in good condition prior to vacating. It also shows that the tenant has plenty of money to afford the unit they are renting.
As such, to ensure that their properties still remain competitive most landlords charge their tenants a security deposit equeal to one month's rental amount. If a tenant's application is not as strong as an owner might need, the owner could ask for additional security deposit.
In this week's #AskTDS, we answer an tenant's question, ?My landlord is asking me to pay a deposit for the equivalent of 2 months' rent, can they do that?? The short answer is, at the moment, yes.
"Application deposit" means a sum of money that is given to the landlord in connection with a rental application and that is refundable to the applicant if the applicant is rejected as a tenant.
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