Addendum to apartment lease concerning security deposit.
Maine Addendum To Apartment Lease regarding Security Deposit
State:
Multi-State
Control #:
US-895LT
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Word;
Rich Text
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How to fill out Addendum To Apartment Lease Regarding Security Deposit?
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FAQ
Your landlord can use it to cover any unpaid rent or damages. You may not use your security deposit to cover your last month's rent unless your landlord agrees. According to Maine lease and rental agreement laws, landlords cannot charge you more than two (2) times your monthly rent for a security deposit.
Maine Landlord Tenant Law Security depositsThe landlord must return the security deposit in full at the end of the tenancy, provided the tenant does not owe back rent. The amount of rent due and the cost of repairs for any damages caused by the tenant can be retained.
Returning Security Deposits in Maine Time Frame: A Maine landlord must return the remaining deposit balance, along with an itemized receipt of deductions (if applicable), within 30 days. This period begins on the date of termination presented in the lease agreement.
In Massachusetts, a landlord can request first and last month's rent, a security deposit in the amount no greater than one month's rent, and a change in lock fee. No other fees can be charged, including application fees or a pet deposit.
A lease clause is a specific part of a contract or rental agreement between the landlord and tenant. These clauses need to be compliant with local state laws and other agreements between the two parties.
While landlords are not legally required to take a deposit, it is incredibly rare to find a landlord who will not ask for one. Deposits provide protection for landlords so they will often insist on receiving one.
Legal Basics.Maine landlords can charge up to two months' rent as a security deposit through surety bond or standard money holding.
Security deposits are not a part of the monthly rent. A security deposit is a set amount of money paid at the start of renting a place. This sum of money is held by the landlord throughout the rental agreement or lease. It pays for any damage the renter caused in the unit until the end of the lease period.
The agreement should clearly mention the amount of rent that you have to pay each month and the due date by which it has to be paid. In most cases, landlords ask for a security deposit which is usually equal to one or two months' rent amount. Mention the security amount in the agreement and when it will get refunded.
The Security Deposit clause requires the payment of a security deposit to protect, in the case of real property, the Landlord from the Tenant's non-payment of rent and from damage to the property, or in the case of personal property, the Lessor from the Lessee's non-payment or damage to the property.
