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Residential Security Deposits

Posted on December 19, 2014 at 2:20 AM Comments comments (0)

Security Deposits. A security deposit (sometimes referred to as a damage deposit) is a sum of money that a landlord may charge a tenant to ensure that the rented property is not damaged or to ensure that the tenant does not default in any payments. A security deposit is not the same as rent because a security deposit is money owned by the Tenant (not the landlord). At the conclusion of the tenancy, the deposit is to be returned to the Tenant with interest unless there has been an authorized d...

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