House & Apartment

A security deposit is a payment a tenant makes at the start of a lease. The landlord keeps the security deposit until after the tenant moves out. 

The money remains the tenant's property during the lease. Some landlords have to pay the tenant interest on the security deposit.

At the end of the lease, if the tenant leaves the property in disrepair, the landlord may use the money to:

• Clean the apartment,
• Fix damage to the property, and
• Replace broken parts that cannot be repaired.

The landlord must follow strict deadlines for providing the tenant with information about how the deposit is used. If the landlord fails to follow the rules, the tenant can sue for twice the amount of the deposit, plus court costs and legal fees.