Security Deposit Withholding Notice

The time period that landlords have for returning a security deposit to a tenant after a tenancy can be anywhere between 14 and 60 days, depending on the state. The only exception is Montana where the period is only 10 days. Within reason, a landlord can use Security Deposit Withhold Notice to inform a tenant that the security will not be returned in part or in full within the period.

Sometimes it can be challenging to assess expected wear and tear or property damage. As a pointer, all jurisdictions consider peeling or fading paint normal wear and tear, but not so much gaping holes in the wall. A rusty shower rod is also considered wear and tear, but not a missing or bent rod.

If property damage is greater than the sum of the security deposit, the landlord has the right to ask for recompense from the ex-tenant. If refused, the landlord can send a demand letter that clearly outlines all of the costs in the tenant’s responsibility for damages done to the property.

There are general practices that most landlords abide by. In most areas of the United States, the security deposit is equivalent to one month's rent. Some landlords may choose to ask for the last month's rent upfront, especially in the bigger cities with high property prices. The law governing the limits of security deposits varies from state to state.

The rent receipt is written evidence that a tenant has paid rent to a landlord. These receipts are essential records in the landlord-tenant relationship. When a tenant pays rent for a specific period, the landlord is to issue a receipt, which can potentially prevent miscommunication or potential disputes in the future. This is an instrumental record for a tenant who pays several months of rent in advance.