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Updated almost 10 years ago on . Most recent reply

User Stats

103
Posts
15
Votes
Terry N.
  • Architect
  • Raleigh, NC and Mid Michigan
15
Votes |
103
Posts

Security deposits and early lease termination

Terry N.
  • Architect
  • Raleigh, NC and Mid Michigan
Posted

Can a landlord request that the security deposit be forfeited if the renter requests to get out of the lease a month early?  I want to work with them but don't think I have anything in the lease that states that they lose a portion of the security deposit.  Or am I bound to the restrictions of the security deposit as only to be used for repairs over and above normal wear and tear?

  • Terry N.
  • Most Popular Reply

    User Stats

    98
    Posts
    18
    Votes
    Adam Demchik
    • Rental Property Investor
    • Oxford, MI
    18
    Votes |
    98
    Posts
    Adam Demchik
    • Rental Property Investor
    • Oxford, MI
    Replied

    I typically try and work with a tenant when they move out early for two reasons:

    1.)  They are much more likely to leave the place in good shape (I actually tell them that if they leave it in decent shape I will not use the security deposit for unpaid rent).

    2.)  I typically rent in small towns and having a good reputation is often what gets me additional renters

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