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Updated about 2 years ago on . Most recent reply

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Keno Powers
1
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10
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Can I use a security deposit toward a rent payment?

Keno Powers
Posted

Hi. My tenant is moving out and is 2 months behind in their rent payments. Can I take the security deposit and pet deposit and use them toward paying off her outstanding balance after making any deductions from the security deposits for potential damages?

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482
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Matthew Kwan
  • Lender
  • Seattle, WA
766
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482
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Matthew Kwan
  • Lender
  • Seattle, WA
Replied

It depends on what the lease agreement has been drafted. Is there a clause that states if the tenant violates the lease agreement then the security deposits will be held by you and used towards the months of rents that the tenant violated. Also be careful if you decided to take their full security deposits with no ground just because they violated the lease agreement, they could be triggered and might end up damaging your unit since they have nothing to loss + not getting any refunds back (security deposits) those are some things i would consider. "Pick your battles" they say @Carlos Valencia @Albert Bui

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