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.
North Carolina Clause Providing for the Reduction of the Tenant Security Deposit
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§ 42-55. Remedies. If the landlord or the landlord's successor in interest fails to account for and refund the balance of the tenant's security deposit as required by this Article, the tenant may institute a civil action to require the accounting of and the recovery of the balance of the deposit.
Q: How much security deposit can a landlord charge? exceed the equivalent of two weeks' rent. If you're renting on a month-to-month basis, your deposit cannot be more than 1 1/2 months' rent. And, if your rental period is greater than month-to-month, your deposit cannot be more than two months' rent.
The landlord has to return the security deposit within thirty (30) days of the termination of the tenancy or itemize any damages and mail any remaining security deposit balance to the tenant.
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 ...
North Carolina's security deposit law states that security deposits are normally refundable at the end of the agreement term as long as the renter has not violated the terms of the agreement. A common violation that results in a landlord withholding part or all of the security deposit is excessive property damage.
Section 92.104 of the Texas Property Code describes what a landlord may deduct from a security deposit: Before returning a security deposit, the landlord may deduct from the deposit damages and charges for which the tenant is legally liable under the lease or as a result of breaching the lease.
The landlord or the landlord's agent shall notify the tenant within 30 days after the beginning of the lease term of the name and address of the bank or institution where the tenant's deposit is currently located or the name of the insurance company providing the bond.
