This office lease clause states that the amount of the security deposit shall be reduced from 4 months' Base Rent to 3 months' Base Rent provided that certain lease conditions are met by the lessee.
Kentucky Clause Providing for the Reduction of the Tenant Security Deposit
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How to fill out Clause Providing For The Reduction Of The Tenant Security Deposit?
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FAQ
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.
Verbal threats, threats of physical violence, or actual physical contact are all examples of landlord harassment. Also, keep in mind that verbal threats can occur via face-to-face interaction, over the phone, or in writing.
The landlord cannot increase the rent, decrease the services provided, or evict a tenant for asking that repairs be made or for notifying Code Enforcement of defects in the property. 3. The right to a rental unit that is habitable and compliant with all building and housing codes (KRS 383.595).
A: Generally, as applied to security deposits in commercial leases, a ?burn down? clause provides that after a certain period of time, if a tenant is not in default of the lease, the landlord will return a portion of the security deposit to the tenant.
A Kentucky month-to-month rental agreement, sometimes known as a ?tenancy-at-will,? is an agreement that may be terminated at any time between the landlord and tenant with 30 days' notice. The agreement has no end date which means the only way for the lease to end is with termination by either the landlord or tenant.
Security Deposit (KRS 383.580) Landlords must keep security deposits in a separate account. Tenants must be notified of the location of the account and the account number. If a landlord fails to maintain a separate account, the landlord is not allowed to keep any portion of the security deposit.
Lessee shall pay to Lessor simultaneously with the execution of this Lease Agreement a sum zero and 00/100 Dollars ($0,000.00) (the ?Security Deposit?) as security for the full and faithful performance by Lessee of each and every term, covenant and condition of this Lease Agreement.
The Lease Deposit shall be held by Lessor as security for the performance by Lessee of Lessee's covenants and obligations under the Lease. The Lease Deposit shall not be considered an advance payment of rental or a measure of Lessor's damages in case of default by Lessee.
A security deposit agreement is an agreement between a landlord and a tenant where the tenant deposits a specific amount of money with the landlord at the time the lease is signed. This security deposit is usually an amount between and three months of rent.
Landlords are required to make all repairs and whatever else is needed to maintain the property and keep it habitable for tenants. Landlords must keep all of the common areas clean and safe. Electrical, plumbing, heating, air conditioning, and other facilities must be kept in good condition.
