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.
Missouri Clause Providing for the Reduction of the Tenant Security Deposit
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US-OL4A012B
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Landlords cannot refuse to sell, rent, sublease or otherwise make housing available based on a renter's race, color, religion, sex, disability, familial status or national origin. Landlords also cannot charge some individuals higher rent or falsely state that housing is not available for discriminatory reasons.
Nothing in this section shall be construed to limit the right of the landlord to recover actual damages in excess of the security deposit, or to permit a tenant to apply or deduct any portion of the security deposit at any time in lieu of payment of rent. 8.
Pursuant to Missouri law, a security deposit charge can be no more than two month's rent. When you pay your security deposit, get a signed receipt from your landlord. In most cases, your landlord may not charge a non-refundable security deposit. A landlord can charge a nonrefundable pet deposit.
? 1. A landlord may not demand or receive a security deposit in excess of two months' rent. 2. All security deposits shall be held by the landlord for the tenant, who is a party to the rental agreement, in a bank, credit union, or depository institution which is insured by an agency of the federal government.
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.
Under Missouri law, landlords are only responsible for replacing or fixing damaged items if they're connected to normal wear and tear.
Landlords in Missouri can only legally make deductions from security deposits for the following reasons: Nonpayment of rent. Property damage exceeding ordinary wear and tear.
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.
