Security Deposit Addendum With Rhino
Description
How to fill out Addendum To Apartment Lease Regarding Security Deposit?
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FAQ
How does Rhino's guarantor coverage work? Our guarantor coverage offers security deposit insurance and additional coverage in lieu of having a guarantor co-sign your lease. We work with your property owner to make sure your guarantor coverage meets their requirements.
A: No. These are fees, not refundable security deposits paid into an escrow account. The only time a resident will receive a refund of fees is if their policy is early-terminated due to not moving in or if they have paid a traditional security deposit directly to the property.
The landlord is allowed to adjust the security deposit amount when rent has not been paid or intentional damage has been made to the property. The landlord should refund the balance to the tenant when the property is being vacated.
Our insurance works like a security deposit but at a fraction of the cost. Free up money at move-in and spend your cash on the things that are important to you.
The purpose of these clauses is to outline what your tenancy deposit can be used for. For example, it should state whether a landlord can request deductions from the tenancy deposit to cover repairing any damages caused during your tenancy.
