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.
Rhode Island Clause Providing for the Reduction of the Tenant Security Deposit
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How to fill out Clause Providing For The Reduction Of The Tenant Security Deposit?
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FAQ
The maximum that a landlord can require a tenant to pay as a security deposit of any kind (security, cleaning, pet, last month's rent, etc.) in Rhode Island is the equivalent of one month's rent plus a furniture deposit equal to one month's rent if the rental unit meets the requirements.
The law caps holdings deposits at the equivalent of one week's rent for the whole property even where there are a number of prospective tenants. This can be calculated by multiplying the monthly rent by 12 to get to the annual rent and then divide by 52 weeks.
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.
Yes, you can change your mind about the property after you've paid the holding deposit. However, you won't be able to get your money back. Holding deposits are required for some properties to prevent tenants dropping out and compensate landlords for wasted time if they do.
The maximum that a landlord can require a tenant to pay as a security deposit of any kind (security, cleaning, pet, last month's rent, etc.) in Rhode Island is the equivalent of one month's rent plus a furniture deposit equal to one month's rent if the rental unit meets the requirements.
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 ...
Maximum Deposit Charging security deposits in Rhode Island is perfectly legal. However, Rhode Island state law restricts the amount that may be collected. The maximum security deposit in Rhode Island is the equivalent of one month's rent.
