Can landlord keep security deposit if tenants use 'unapproved' contractor?
An exception is if the security deposit held by your landlord is already at a maximum allowed level under state or local law. For example, some states have a maximum security deposit that a landlord can require that is equal to two times the monthly rental rate. If that was true for your area, then if your rent is $1,000 per month the maximum security deposit would be $2,000.
Also, check the lease to see whether the landlord has provided a proper period of written notice for the increase in security deposit.
This column on issues confronting tenants and landlords is written by property manager Robert Griswold, author of "Property Management for Dummies" and "Property Management Kit for Dummies" and co-author of "Real Estate Investing for Dummies."
Email your questions to Rental Q&A at email@example.com. Questions should be brief and cannot be answered individually.
|Contact Robert Griswold:|
|Letter to the Editor|
Rental owners’ top 5 mistakes
What's Your Home Worth?
Top 5 posts of the week