If my dad did a lease with the current tenants without a deposit and the lease is up for renewal,can I now require a deposit?
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If my dad did a lease with the current tenants without a deposit and the lease is up for renewal,can I now require a deposit?
Asked on July 23, 2012 under Real Estate Law, South Carolina
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Yes, you can and you should. The lease is a new contract. A security deposit generally covers damages made by tenants over and above norlmal wear and tear and in some states back rent. South Carolina has no statutory limit on security deposits at the state level, but check your city and county laws to see if your municipality has set a cap on security deposits for residential rentals. Good luck.
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