This form is a tenant oriented office lease clause that 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.
Maine Tenant Oriented Clause Providing for the Reduction of the Tenant Security Deposit
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Multi-State
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US-OL4A012C
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How to fill out Tenant Oriented Clause Providing For The Reduction Of The Tenant Security Deposit?
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FAQ
Normal wear and tear. "Normal wear and tear" means the deterioration that occurs, based upon the use for which the rental unit is intended, without negligence, carelessness, accident or abuse of the premises or equipment or chattels by the tenant or members of the tenant's household or their invitees or guests.
Security deposits from the tenant in residential dwelling units shall be deposited in a trust account with a licensed and federally insured depository institution or a trust institution authorized to do business in this State, or the landlord may, at the landlord's option, furnish a bond from an insurance company ...
C. 186, §15B will require the landlord to immediately return to the security deposit to the tenant; however, the following three (3) violations will subject a landlord to treble damages and attorneys' fees: The landlord fails to deposit the security deposit into a qualified separate interest bearing bank account.
Reasons for which a landlord may retain the security deposit or a portion of the security deposit include, but are not limited to, covering the costs of storing and disposing of unclaimed property, nonpayment of rent and nonpayment of utility charges that the tenant was required to pay directly to the landlord.
A landlord must give you adequate notice before you are evicted or your rent is increased. The landlord cannot abuse your security deposits. Tenants always have a right to a court hearing before the landlord can evict them. Unfair rental contracts can be in violation of the Maine Unfair Trade Practices Act.
If your rental unit is damaged for any reason, including due incidents of domestic violence, stalking, or sexual assault, the landlord can keep your security deposit to cover the damages. The landlord cannot keep your security deposit as a penalty for breaking the lease.
Maine law says the security deposit can't be more than two times the monthly rent.
A landlord must give you adequate notice before you are evicted or your rent is increased. The landlord cannot abuse your security deposits. Tenants always have a right to a court hearing before the landlord can evict them. Unfair rental contracts can be in violation of the Maine Unfair Trade Practices Act.
