What can a security deposit be used for?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What can a security deposit be used for?
We leased our home out for the past 2 years. The tenant is moving out. We have carpet damaged and grout damaged throughout the home. He is liable for this. Can we use the security deposit to make repairs?
Asked on January 14, 2013 under Real Estate Law, New Mexico
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Yes, you can. A security deposit is an amount of money that is paid by a tenant and held by a landlord for the term of the lease. This deposit protects a landlord in case a tenant causes damage,etc. The amount of the deposit typically reflected in the lease (and the maximunm amount mat be regulated by state law).
If a landlord is keeping money from a security deposit, they must let the tenant know why and how much. Most states require that the notice be in writing and itemized.
Note: Normal wear and tear is not an acceptable reason for keeping/deducting from a security deposit.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.