Security Deposit Refund Letter?

Security Deposit Refund Letter?
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Get StartedA security deposit is an amount of money given to the Landlord by the Tenant that can be used by the Landlord to offset unpaid rental payments due to a default or premature vacation by the Tenant, as well as for necessary repairs and cleaning. Most states limit the amount that can be collected to one or two months' rent. This cap may differ depending on the type of lease (more can be collected for a long-term lease, where the property is furnished, or where the Tenant will have a pet or waterbed, etc.).In addition, some states require that the security deposit be retained in a separate account, and sometimes, in an interest-bearing account. A few states require that the Landlord inform the Tenant of the name of the banking institution where the funds will be held.
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