Apartment Deposits

Apartment deposits, also known as security deposits, are a universal part of renting a new apartment. A security deposit is defined as any deposit money paid upon leasing an apartment, over and above the first month's rent or any special deposits for keys, equipment, et cetera. The amount of a security deposit can vary widely; many states have enforced maximums such as one, two, or three months' rent. Usually deposits for Furnished Apartments are higher than those for unFurnished Apartments.

If you leave your apartment in good condition at the end of the lease (excepting normal wear and tear), your landlord is required to return your full security deposit. Some states even require that your landlord return the apartment deposit plus interest. Depending on the state law, a landlord has between 14 and 60 days to return your deposit (30 days is the most common deadline), provided you give a correct forwarding address. Sometimes landlords will hold back part or all of a security deposit to pay for damage that you in fact did not cause. For a surefire way to prevent this, see our Apartment Renting Tips.

Apartment Renting

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