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.
South Carolina Clause Providing for the Reduction of the Tenant Security Deposit
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US-OL4A012B
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How to fill out Clause Providing For The Reduction Of The Tenant Security Deposit?
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FAQ
In particular, joint tenancies with right of survivorship involve all parties having equal ownership and the right to assume another owner's interest in the event the other owner dies.
Normal wear and tear is considered deterioration that happens from regular use of the rental unit without carelessness, negligence, accidents, or abuse of the rental property by the tenant and guests. This includes minor problems, such as: Fading wall paint. Gently worn carpets.
South Carolina Landlord Tenant Law permits landlords to require tenants to pay a security deposit. The security deposit must be returned to the tenant within thirty days after termination of the tenancy. Past due rent and the cost of damages can be withheld from the security deposit.
Joint Tenants with Rights of Survivorship: Created by SC Code §27-7-40. Upon the death of one owner, the death certificate is filed at the courthouse and that owner's interest automatically passes to the surviving owner(s).
The South Carolina Code of Laws and legislative information may be found at .
SECTION 27-40-410. Security deposits; prepaid rent. (a) Upon termination of the tenancy, property or money held by the landlord as security must be returned less amounts withheld by the landlord for accrued rent and damages which the landlord has suffered by reason of the tenant's noncompliance with Section 27-40-510.
Primary tabs. Under the right of survivorship, each tenant possesses an undivided interest in the whole estate. When one tenant dies, the tenant's interest disappears and the others tenants' shares increase proportionally and obtain the rights to the entire estate.
(c) A landlord shall not abuse the right of access or use it to harass the tenant. Except in cases under item (b) above, the landlord shall give the tenant at least twenty-four hours notice of his intent to enter and may enter only at reasonable times. (4) unless the tenant has abandoned or surrendered the premises.
