Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

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

    Loading replies...