A lease agreement almost always requires the tenant to put up a security deposit against property damage or nonpayment of rent. If everything is in order after the tenancy, the landlord must return the security deposit to the tenant in full.
If there are damages to be covered, a landlord can deduct the sum from the security deposit up to the full amount. In that case, the landlord will send a Security Deposit Withholding Notice to inform the tenant.
The Security Deposit Withholding Notice is a letter informing a tenant of a landlord's decision to deduct the security deposit up to the full amount.
Landlords can affect security deposit withholding for several valid reasons. The tenant may have broken the lease agreement or left without paying the last month's rent. Repair and unreasonable cleaning costs can also be deducted from the deposit, as well as unpaid utilities.
Depending on your state, a Security Deposit Withholding Notice may also be known as:
When a tenant leaves a rental property, it is standard procedure for the landlord to inspect the premises to see if everything is in order. If not, the landlord could use a Security Deposit Withholding Notice to inform the tenant to withhold part or all of the deposit.
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As a landlord, you might run into a need to generate a Security Deposit Withholding Notice. You have to worry about itemizing all the damaged items and the attendant costs.
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To be enforceable, a Security Deposit Withholding Notice only requires the signature of the landlord. This document also does not need notarization or a witness to be valid.
After generating your Security Deposit Withholding Notice on 360 Legal Forms, print out a copy and ensure that the tenant receives it in due time. You can hand over the notice in person or use another delivery method, preferably with delivery confirmation.
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