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.
Tennessee Tenant Oriented Clause Providing for the Reduction of the Tenant Security Deposit
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Multi-State
Control #:
US-OL4A012C
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Word;
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How to fill out Tenant Oriented Clause Providing For The Reduction Of The Tenant Security Deposit?
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FAQ
Allowable charges The tenant is not permitted to apply the security deposit to the last month's rent or any other charges. Tennessee law allows the landlord to use the security deposit for unpaid rent or other owed amounts if the tenant has vacated the premises.
Normal wear and tear is damage that is expected when a rental unit is used in a normal way, such as gently worn carpets and faded walls. Damage is the destruction caused by abusive or negligent use of a rental unit, like ripped carpets and heavily stained walls.
A security deposit must be returned within 30 days of the end of the lease. Ideally, the landlord or agent representing the owner and the tenant should do a joint inspection on vacating a property. By inspecting together, any damage can be pointed out and itemized fairly.
(a) All landlords of residential property requiring security deposits prior to occupancy are required to deposit all tenants' security deposits in an account used only for that purpose, in any bank or other lending institution subject to regulation by the state or any agency of the United States government.
Landlords can legally deduct unpaid rent, the cost of damage to the unit listed on the inspection report, and other amounts from the deposit owed to the tenant.
Lessee shall pay to Lessor simultaneously with the execution of this Lease Agreement a sum zero and 00/100 Dollars ($0,000.00) (the ?Security Deposit?) as security for the full and faithful performance by Lessee of each and every term, covenant and condition of this Lease Agreement.
The landlord is allowed to adjust the security deposit amount when rent has not been paid or intentional damage has been made to the property. The landlord should refund the balance to the tenant when the property is being vacated.
You cannot be evicted without notice. The landlord cannot change the locks or shut off your utilities to make you leave. Most of the time, a landlord needs to go to court before evicting you.
