4 Scenarios in which a Landlord Can Increase Your Security Deposit

Share:

4 Scenarios in which a Landlord Can Increase Your Security Deposit

Staff Writer · Feb 9, 2010

Your landlord can increase your security deposit after giving you a timely, written notice notice. The increase can occur with or without a simultaneous increase in rent. There are a number of reasons why your landlord can ask for a higher deposit. Here are 4 scenarios:

1. New Landlord

If the rental unit gets sold, the new landlord may require an increase in your security deposit, especially if you’ve been living there for a while. This is often accompanied by an increase in rent, although not necessary. In many states however, the increase must be allowed for in the lease agreement that you signed with the original landlord. If not, the new landlord can’t increase the security deposit unless you give written permission. However, if you’re in a month-to-month arrangement, then the new landlord only needs to give you proper notice to collect more deposit money.

2. Pets

There may come a time during the rental period when you decide to have pets. Your new pets may trigger a request from your landlord for a higher security deposit. This is to cover the risk of destroyed carpets, walls and other damages that’s anticipated due to you having dogs or cats in the apartment. While this is a reasonable request, the amount of the deposit should not be excessive. If you doubt that the amount the landlord is asking for in regards to a pet security deposit is reasonable, check your state laws. Don’t be afraid to negotiate with your landlord on a fair amount.

3. Damages During Tenancy

A landlord has a right to reimbursements from your security deposit during your tenancy for damages that you cause to the apartment. In most cases, the landlord will wait until you move out to deduct the expenses, but if repairs can’t wait, then they can make the repairs out of your deposit. This is a scenario that can lead to an increase in your security deposit. The landlord will want to replenish the original deposit, and may require more money for protection against future damages.

4. Maximum Not Collected Upfront

Your state laws set the perimeters for the amount of the security deposit your landlord can collect. Your landlord may have allowed you to move in with little or no security deposit. Perhaps it was a financial benefit to both of you  to start the lease right away. Whatever the reason, your landlord can increase the security deposit up to the maximum required by law. However, read your lease agreement carefully, because the increase must be allowed for in the lease. You may also be protected against the increase if you live in a state with rent control laws.

The request for an increase in security deposit can pose a financial hardship if you’re not prepared for it. Try to negotiate a lower deposit with your landlord, and address any concerns that they have for wanting the increase in the first place.

You might also like:

As the summer heat intensifies, it’s crucial for apartment residents to take necessary precautions to ensure their safety and comfort. Here are some essential tips to help you stay cool and safe during the hot summer months. 1. Keep Your Apartment Cool 2. Stay Hydrated and Sun Protected 3. Protect Against Heat-Related Illnesses 4. Prepare […]

Jessica Lee

 · May 30, 2024

|
image

On ApartmentRatings, real renters have the ability to rate and review their apartment communities based on their experience touring and or living in the communities. ApartmentRatings offers renters the ability to see what life is like at a community through a report card grade style format called epIQ. Every month we highlight apartment communities whose […]

Jessica Lee

 · May 28, 2024

|
image

On ApartmentRatings, real renters have the ability to rate and review their apartment communities based on their experience touring and or living in the communities. ApartmentRatings offers renters the ability to see what life is like at a community through a report card grade style format called epIQ. Every month we highlight apartment communities whose […]

Jessica Lee

 · May 2, 2024

|
image