5 Things That Could Hurt Your Chances of Getting Your Security Deposit Back
Written by
Vance Cariaga
Edited by
Jenna Klaverweiden
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Depending on where you live, you might have to pay several thousand dollars for a security deposit to rent a home or apartment. The average security deposit is about one month’s rent, according to Rent.com, but some landlords might require the equivalent of two months’ rent or more. With so much money at stake, it’s important to avoid mistakes that might cause you to lose your security deposit.
As Rent.com noted, landlords require security deposits to protect them from damage and non-payment. The amount of a deposit is based on four main factors: state law, cost of monthly rent, included amenities and market competition. If all goes well during your rental period, you should get your full deposit back when you vacate the apartment. If not, you could sacrifice part or all of it.
Here are five things that could hurt your chances of getting your security deposit back and how to avoid them.
Also see how to create a budget for your first apartment.
You Owe Back Rent
When you sign a lease agreement, you are legally obligated to meet its requirements — including paying rent on time. Paying rent late can lead to additional fees, while not paying at all can lead to eviction proceedings.
If you still owe rent and/or late fees when you move out, the landlord can deduct that amount from your security deposit. You can avoid this by always paying your rent on time and in full.
You Left the Rental in Poor Condition
Perhaps the biggest reason tenants lose their security deposit is that they leave the home or apartment in poor condition. It should be in the same condition as when you moved in.
Be sure to inspect the property carefully before moving out. Give it a full cleaning and, if necessary, repair any damages.
You Made Unauthorized Changes
One thing to keep in mind when renting a home or apartment is that it doesn’t belong to you. This means you likely can’t make changes without the consent of the landlord. If you decide to knock out a wall or add a new patio, for example, you will likely sacrifice your security deposit. You might even be obligated to pay more money to finance repair or renovation jobs.
To avoid this, make sure you get written permission from your landlord before making any changes.
You Didn’t Read the Lease Agreement Carefully
It’s no fun reading through all the fine print of a rental contract, but it’s something you should do before signing it. If you don’t read it thoroughly, you might have missed items that could cause you to lose your security deposit, such as vacating early or breaking rules against having pets.
You Owe Money for Other Costs
Your lease agreement might include requirements to cover additional costs, such as utilities and homeowners association fees, according to Rocket Lawyer. If you have not paid all of these costs when vacating the apartment, you can expect them to be deducted from your security deposit.
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