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Questions
What is a security deposit?
A security deposit is any extra payment for the tenant of
respect of the landlords property to make other than the
rent or advance payment.
Must a landlord provide a receipt for a security deposit?
A receipt must be given to the tenant stating the date and
deposit.
Does a landlord have to pay interest on a security deposit?
Yes he has to pay interest for the entire time he had the
security deposit.
How much can be charged for a security deposit?
A security deposit cannot be more than one months rent.
How much time does a landlord have to return a security
deposit after the tenant moves out?
The landlord has to give the tenant his security deposit
within 15 days he leaves.
What is a rental agreement?
The rental agreement is an oral or written agreement
between the tenant and landlord stating the rules for the
property and payments.
What are the types of rental agreements?