What are security deposits for?
Security deposits are a common practice in many rental agreements, and they serve several important purposes. Essentially, a security deposit is an amount of money that a tenant pays to a landlord at the beginning of a lease. This deposit is intended to cover any damages or cleaning that may occur during the tenant’s occupancy of the property. Understanding the purpose and rules surrounding security deposits is crucial for both landlords and tenants to ensure a smooth rental experience. In this article, we will delve into the various aspects of security deposits, including their significance, legal requirements, and potential disputes.
