Posts Filed Under Security Deposits & Damages

In California, landlords typically require a security deposit, which is usually equivalent to one month’s rent. The purpose of this deposit is to protect against damage to the property beyond normal wear and tear, and to mitigate any financial losses in the event of a tenant breaking the lease early and failing to pay rent. ..Read More

The biggest and most common issue between landlords and tenants are by far late or nonpayment of rent. The handling of security deposits are a very close second. Most of the issues lie in how landlords and tenants each think they work or what they’re for. The fact is these two ideas or concepts are ..Read More

Updated 12/3/20 Once a tenant has vacated your rental property, the landlord has 21 days to give the tenant an account for their security deposit. This is where tenants and landlords share vastly different opinions especially when it comes to normal wear and tear vs damage in California. According to a study by Porch, 23.8% ..Read More

What is a Security Deposit? It is a sum typically in the form of cash. This sum is paid by the tenant to the landlord before moving in to the rental property whether it’s a lease or a rental agreement. The amount of the security deposit is determined according to the monthly rent. That is, ..Read More

The security deposit is an important part of any tenancy agreement because it ensures that the landlord would always have some security money from the tenant which can be used up in case of any emergency during the tenancy period. The bond normally comes in handy when the tenant disappears all of a sudden or ..Read More

A landlord is faced by a constant worry when renting out their property, and that is due to property damage by the tenant. Although, the security deposit you take when renting out the property may be enough to cover the damage, it is important to know the recourse after damage, and how to make repairs. ..Read More