This office lease clause states that the amount of the security deposit shall be reduced from 4 months' Base Rent to 3 months' Base Rent provided that certain lease conditions are met by the lessee.
Hawaii Clause Providing for the Reduction of the Tenant Security Deposit
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US-OL4A012B
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How to fill out Clause Providing For The Reduction Of The Tenant Security Deposit?
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FAQ
North Carolina's security deposit law states that security deposits are normally refundable at the end of the agreement term as long as the renter has not violated the terms of the agreement. A common violation that results in a landlord withholding part or all of the security deposit is excessive property damage.
When the rental ends, the landlord can use the money to pay for cleaning, unreturned keys, property damage caused by the tenant, or rent that the tenant still owes. The landlord cannot deduct money from the deposit for expenses relating to the gradual deterioration of the property through normal, everyday use.
Security deposits from the tenant in residential dwelling units shall be deposited in a trust account with a licensed and federally insured depository institution or a trust institution authorized to do business in this State, or the landlord may, at the landlord's option, furnish a bond from an insurance company ...
Any costs, such as cleaning or specific repairs, must be itemized and copies of receipts included. If the repairs cannot be accomplished within the 14 days, estimates for the cleaning or repair services may be substituted.
The landlord has to return the security deposit within thirty (30) days of the termination of the tenancy or itemize any damages and mail any remaining security deposit balance to the tenant.
The landlord or the landlord's agent shall notify the tenant within 30 days after the beginning of the lease term of the name and address of the bank or institution where the tenant's deposit is currently located or the name of the insurance company providing the bond.
Section 92.104 of the Texas Property Code describes what a landlord may deduct from a security deposit: Before returning a security deposit, the landlord may deduct from the deposit damages and charges for which the tenant is legally liable under the lease or as a result of breaching the lease.
§521-51 Tenant to maintain dwelling unit. Where no evidence that tenant's failure to replace damaged tiles constituted a violation of applicable building and housing laws materially affecting health and safety under paragraph (1), landlord was not authorized under §521-69(a) to terminate tenant's lease.
