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.
North Dakota Tenant Oriented Clause Providing for the Reduction of the Tenant Security Deposit
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US-OL4A012C
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How to fill out North Dakota Tenant Oriented Clause Providing For The Reduction Of The Tenant Security Deposit?
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FAQ
The landlord can require a security deposit of up to one month's rent, plus an additional deposit if you have a pet. If you have a felony conviction, the landlord can require up to two months' rent for a security deposit.
How much can the deposit be? No more than two months' rent for an unfurnished unit. For a furnished unit, the deposit cannot be more than three months' rent.
A landlord is required to pay interest owed on a security deposit to the tenant annually. If you paid more than one refundable deposit, like a pet deposit in addition to a security deposit, you can add those amounts together when calculating the interest you are owed.
Rent and Fees Late Fees: There is no statutory limit on late fees in North Dakota. Grace Period: There is no mandatory grace period in North Dakota. NSF/Bounced Check Fee Maximum: If the tenant's rent check bounces, the landlord may charge any collection fees or costs less than or equal to $40 (NDC § 6-08-16).
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.
The landlord can require a security deposit of up to one month's rent, plus an additional deposit if you have a pet. If you have a felony conviction, the landlord can require up to two months' rent for a security deposit.
Reasons to Withhold a Tenant's Security Deposit Some of the scenarios may be: If the tenant defaults on unpaid rent or fails to pay rent. If the tenant causes damage beyond ordinary wear and tear. If the tenant fails in restoring the rental unit to a reasonable condition.
However, interest is not required to be paid if occupancy was shorter than nine months in duration (ND Century Code 47-16-07.1(3)). Any security deposit in excess of $50 or one month's rent, whichever is greater, shall bear interest at a rate of 5% per year.
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The Rental Property. Before signing a lease, inspect the property. The landlord must provide a detailed document describing the property's current condition. The following are answers to common questions of landlords and tenants regarding security deposits in the state of North Dakota. What Is a Security Deposit? A ...Working on paperwork with our extensive and user-friendly PDF editor is easy. Adhere to the instructions below to fill out Tenant Oriented Clause Providing ... A landlord is not permitted to withhold security deposit money for normal wear and tear to the rental property. NDCC § 47-16-07.1. Additional Requirements: Not ... If you are required to pay a security deposit for a rental unit in North Dakota (which is very common), your landlord can only charge up to one month's rent and ... by MA General — Minnesota law allows a landlord to withhold from a security deposit only to cover unpaid rent,149 damages to the rental unit beyond ordinary wear and tear ... The landlord can require a tenant to pay a security deposit of up to one month's rent. If the tenant has a pet, the landlord may require an extra “pet” deposit. The landlord may apply the security deposit money and accrued interest upon termination of the lease toward any damages suffered through the negligence of the ... At the end of the tenancy, a landlord must return a tenant's security deposit plus simple, non-compounded interest, (141) or give the tenant a written ... by MA General — At the end of the tenancy, a landlord must return a tenant's security deposit plus simple, non-compounded interest, or give the tenant a written explanation ...
