What happens if my landlord doesn’t have my security deposit ?
So my roommate also my landlord has been having money troubles. Two days ago I texted him that I will be moving out and this is my last month. The text did not go through.. I’m guessing the phone bill is unpaid. I slipped a note under his door stating that I am leaving but I can still see the paper from under the door cause he has not been home. Also he lowered my rent 100 dollars because he disconnected the wifi. I am also aware that he is having money troubles and scared he may have spent my security deposit. March 1st I will be on a flight to florida and cannot come back to Jersey. If worst case scenario, he does not have my security deposit.. What do I do ? (also the agreement was a month notice in advance to move out, I haven’t told him yet that I’m moving cause phone is disconnected and I haven’t seen him in the house)
I need help paying my security deposit?
I need help paying my security deposit. First let me say yes I can afford my rent each and every month but the only things is my deposit is kind of high I just need to know some places that will help me with the rest of my deposit I have 650 of my deposit and I need another 400.00 I have no family here and no one else that I can ask for help I am not looking for a hand out just some places that may be able to help me My landlord will not wait until my next paycheck and I had no idea that I had to have my deposit within 72 hours of being approved I have never heard of that before adn yes in oregon that is true you fo have to have your deposit within 72 of hours of approve and if he chooses not to wait and lets another family move in my son and myself will be homeless and I will have to start the whole process over of having to reapply and pay another Application fee
What happens to a rental security deposit if one person leaves?
Our leases are worded such that the security deposit (in essence) belongs to the “lease” and not any particular tenant. So if one roomate moves out, and they originally each kicked in $500 for the $1,000 security deposit, then it would be up to the remaining tenant to pay the outgoing tenant his share of the security. In no case is a landlord be required to do anything with a security deposit until the apartment is vacated and cleaned. It belongs to the “apartment” not any particular tenant.
How do I make sure I get my security deposit from a person who took over my remaining apartment lease?
The answer depends on whether your lease was actually transferred to the new person or not. If it was transferred then you should have received the security deposit from the new person upon execution of that transfer (known as an "Assignment and Assumption of Lease"). If it was not, the new party must have signed a new lease with the landlord, which would have nothing to do with the security deposit held under your lease. If this is the case then the party responsible for returning your security deposit is the landlord and not the new tenant.
How does one deal with the security deposit when one roommate moves out?
It could depend on whether the roommates (tenants) are all part of the prime lease (each roommate signed the lease jointly), or only one roommate is the prime lessee, and all the other roommates are on a sub-lease (written or implied) to the prime lessee.And it also depends on what the terms of the lease says about the matter. If it is covered in the lease, then the terms of the lease contract govern. If it is not covered, then it might depend on who the lease contract is with.If all roommates are signatures to the lease contract, then most likely you are all jointly and severely liable for the full amount of the lease. That is the way I would write a lease as a landlord. And I suspect this is the case. In such case, if one roommate doesn’t pay his fair share, the other roommates are each liable for the full amount of the missing share.And, in the same vein, if all roommates are due a share of the security deposit at the end of the lease period, but one roommate moves out, and the remaining roommates roll over the entire security deposit, the remaining roommates are probably all jointly and severally liable for the refund due to the bailing roommate — not the landlord.This is so because:1) The remaining roommates will get reimbursed by a greater amount than they originally deposited; and 2) In general, the security deposit does not usually depend on how many people are on the lease — it is usually defined in terms of the monthly lease amount — most commonly equal to one month’s lease payment, or sometimes rolled into an initial deposit of the first and last months lease payments.EXAMPLE:Lease 1 initial — 5 roommates. $1,000 security deposit paid, $200 by each roommateLease 1 final — 5 roommates. $1,000 security deposit retained by landlordOne roommate bails, Each of the 4 remaining roommate pays bailing roommate $50, for a total of $200Lease 2 initial — 4 roommates. $1,000 security deposit rolled from Lease 1, each remaining roommate now has paid $250 toward security deposit;Lease 2 final — 4 roommates divide $1,000 security deposit, for $250 each.Sometimes landlords will allow the security deposit to be consumed as the last month’s lease payment. In such a case, there is no deposit refund. This is rare.If there is only one prime lessee to the landlord, and all other roommates are sub-lessees to the prime lessee, then the prime lessee is solely responsible for returning any deposit paid to him by a sub-lessee.
Did I put down a Holding Deposit or Security Deposit?
I applied for an apartment, and I am waiting on approval for my roommate, which also needs to be approved. I have already been approved, and she asked for a deposit because a unit is opening next week. As of now, nothing is signed, or payed for the deposit. The receipt given me says Security Deposit. Now, in case my roommate isn't approved, that is fully refundable still, correct? Living in Michigan.
How much will I be paying out to Duke Energy for a Security Deposit?
I am moving into my first apartment (2 Bedroom) soon. I live in North Carolina (Charlotte Area), and I read on Duke Energy's website and it says: Standard deposit amounts range from $100 to $250 depending on the projected energy usage of the individual home. I'm waiting for them to process my information, but I really would like to know what my projected energy usage would be since it's just me and occasionally my boyfriend? What do they factor this off of, because I don't think my energy bill should be any more than $65 a month. Is there anyone out there who's paid a security deposit and can share some knowledge about this? Thanks!!!
Should flat owners at least pay bank interest on the security deposit they take from the tenants? In Bangalore, owners take a hefty amount as security deposit (like 10 months rent) they are not supposed to earn anything from it.
Income from rental of residential property is around 6% per annum and fully taxable. It is not an attractive investment. The landlords enforce some kind of stability by taking such huge deposits.We do not have legal options for covering the risk of property staying unoccupied, or getting damaged by tenants. There are excellent renter's insurance plans available in USA and other countries to help people stay out of this unpleasant way of dealing.We need to change our laws to be able to avail those facilities.Now, that Bangalore is not a boom town anymore, you will find rents coming down and landlords are not all that insistent on 10 months advance.This advance can be converted to some kind of deposit in a bank with a lien to the landlord. Like, you can not encash the deposit without the landlord's agreement. And the landlord too can encash it without your agreement. Like a letter of credit that the importers and exporters use. Banks have to come up with a product like that.However with the change in economic scenario, a fixed deposit now a days doesn't earn much.
The security deposit (and all rent payments) was paid by check by someone else (not on the lease). Who is the security deposit returned to?
The security deposit is always returned to the person on the lease. If someone had 'loaned' the funds to the tenant to pay the owner, the tenant would need to refund to the person that loaned them funds. I hope this helps in figuring out your housing situation. Mike
Do I get my security deposit back upon subleasing it to other people?
Your tenant should pay a security deposit to you. Since you are subletting the premises you are still personally responsible to your Lessor for any damages or delinquent rent. With a sublease your tenant/sub-lessee makes the rental payment to you and you make the rent payment to the Lessor and you are still responsible for all the liability to the landlord/ Lessor. If you assigned the lease, the new tenant become responsible directly to the Lessor should there be any damage or delinquent rent. With an assignment, the new tenant makes the rent payment directly to the landlord/Lessor and you are released from all liability.