Security deposit is the refundable monetary deposit given to the landlord by a tenant to ensure the cost of repair for all the damages that have been explicitly specified in the lease agreement. When the lease ends and the tenant moves out of the rented apartment, the landlord is legally bound to payback the security deposit within two to six weeks. Every tenant hopes to get all of his/her security deposit back at the end of lease, but this is not the case mostly, and the landlords usually deduct a considerable amount for repairs and damages. To make sure you get the security deposit back from the landlord when you move out of a rental property, it is important to leave the unit neat and clean and in its original condition.
Research your prospective landlord’s repute
Before you move in, thoroughly research the leasing company or the landlord’s name to figure out their repute in the renting market. Never rent a place whose landlord has a bad reputation.
Read the lease carefully
Once you have decided to rent a place and are ready to sign the lease, read your lease carefully, understanding each and everything written in it. A lease agreement is not set in stone, if the tenants find something unreasonable, they can actually make alterations to it. The tenants also have the right to remove certain conditions from a lease or make additions to it.
Note down any damages that already exist
Ask the landlord to give you a checklist of the house and detail the condition of each room, as well as the kitchen and bathrooms. Notice all the issues that already exist and mention them in the checklist. This can be an extremely tedious task to be done alone, so invite some friends and walk around the rental unit, finding out any damage, such as dings in wooden fixtures, or wardrobes that do not close properly. It is a good idea to take pictures of every room, especially where damage is obvious and save them in your computer.
Report minor damages and repairs in time
Do not take any damage or problem lightly; instead report things as soon as you notice them. If you don’t report minor issues in an appropriate time, you may be held responsible for any major damage that results, and the deductions will definitely be made from your security deposit.
Leave the apartment neat and clean
Hire a cleaning service to thoroughly clean the apartment on the move-out day and ask the landlord to walk through the unit with you so that he/she can point out the issues that need to be resolved before you move out.