This office lease guaranty lists the conditions of the principal's obligations held in this bond. If all obligations of this guaranty are performed and indemnifies and holds harmless the obligee from any loss, costs, and expenses incurred by the obligee as a result of any failure or default by the principal in its execution of the agreement, then this obligation shall be void; otherwise it will remain in full force and effect.
South Carolina Lease Deposit Guarantee Bond
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Multi-State
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US-OL4A025
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How to fill out Lease Deposit Guarantee Bond?
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FAQ
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.
Damage is the destruction caused by abusive or negligent use of a rental unit, like ripped carpets and heavily stained walls. ?Normal wear and tear? is deterioration that occurs naturally as a result of the tenant using the property as it was designed to be used. Examples include: Gently worn carpets.
You may be able to legally move out before the lease term ends in the following situations. You Are Starting Active Military Duty. ... The Rental Unit Is Unsafe or Violates South Carolina Health or Safety Codes. ... Your Landlord Harasses You or Violates Your Privacy Rights.
Under the Residential Landlord-Tenant Act, a tenant may bring an action against the landlord for recovery of damages or to obtain legal relief for any violations by the Landlord. These remedies will be discussed later. A tenant is responsible for paying rent on time.
Under South Carolina law, tenants may withhold rent if the landlord fails to provide essential services such as heating systems, water supply, good sanitary conditions, and maintenance.
What is the South Carolina Residential Landlord-Tenant Act? It is a law passed in 1986 that protects South Carolina house, apartment, and room renters and their landlords. If you live in government-assisted housing, this law protects you. You may also have additional protections under federal law.
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.
One important difference is that with a security deposit, you can get the money back (up to the full $1,000 or whatever the amount is). With a surety bond, you cannot get back the money you paid for it (the $10-$40). That money is non-refundable.