Are Security Deposits Required?
In most states, a landlord has the option of requiring a security deposit. Most landlords choose to require a security deposit in order to help ensure that the tenant takes care of the rental property and complies with the terms of the agreement. Generally, a security deposit must be refundable and the terms should be specified in writing to determine on what conditions the tenant will receive the deposit back. In most states, the landlord can make deductions from the security deposit for certain damages to the property or for unapid rent. State law varies on the kinds of deductions that can be made to the property (but generally does not include normal "wear and tear") and the number of days in which the security deposit must be refunded and/or an itemized statement of deductions be provided to the tenant.
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