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Security Deposits: Best Practices To Keep Them

Posted by Harriet on February 8, 2021
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Putting down a security deposit is one of those things you NEED to do, while many people think putting this money down means it’s gone but we can assure you that is not the case. There is never a guarantee you will get every penny returned but here are several tips that can heighten your chances.

Read The Lease

While this might be a given, the point of reading the lease is to fully understand the scope of everything you are responsible as well as let you know how to keep a good standing relationship with your landlord.
Most of it should be just common sense, like leaving the place in a good condition. But some leases have to add ons like you need to paint the walls back to their original color, fill in holes in the walls due to nails, or even get the carpets deep cleaned and/or replaced.

Double-Check Everything And Create Proof

Before you even think about leaving for the last time, take this moment to walk around your empty place. Inspect everything for the last time. Take videos and pictures of everything so that you have proof of the good condition you left it in. Take pictures and videos of anything that might be in disarray. Make a note of any appliances that don’t work or any scratches that are visible.

Keep Track Of Your Upgrades

After you’ve lived in a place for a while you might be looking at some of the appliances and realize you want an upgrade. The first thing you should do in this step is touch base with your landlord to see if it’s allowed. Maybe if you’re lucky they might offer to cover some of the costs. Once you have the go-ahead from the landlord and proof they agreed it would be in your best interests to take pictures of the before and after as well.

Knowing Your Rights

Every state has its own laws pertaining to landlords and renters, you should always review these laws to make sure your landlord isn’t holding your security deposit illegally. In fact, in some cases, there are deadlines that a landlord has to follow to return your security deposit. So make sure you do your research from credible sources and ensure you know your rights

Know The Rules

Pay attention to how long your lease states you have to stay there before you move out. In some cases, you can move out too soon and break your lease which automatically forfeits you of your security deposit. There can also be instances where you have too many people living there which can also result in you losing your deposit. If you follow the rules listed you can ensure you will receive most if not ALL of your deposit back.

Likeability Goes A Long Way

The last tip we will give you is to make sure you keep a solid relationship with your landlord if you both are on good terms then it would be a lot easier to get your security deposit back. Having a good relationship with your landlord doesn’t only help with that though, it can make the whole experience a lot more enjoyable.

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