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.
Maine Clause Providing for the Reduction of the Tenant Security Deposit
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How to fill out Clause Providing For The Reduction Of The Tenant Security Deposit?
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FAQ
The Condition, Maintenance, and Repairs Maintenance is a major landlord responsibility. Hence, a landlord needs to keep the unit habitable and fix any damage caused by normal wear and tear by: Ensuring that electrical, lighting and plumbing are in excellent condition.
Under Texas law, you must give the landlord a forwarding address in order to receive your returned security deposit. The landlord must return your deposit ? less any amount deducted for damages ? within 30 days.
Unless you live in public or subsidized housing, there is no limit on the amount that can be charged as a security deposit. From Security Deposits by Texas RioGrande Legal Aid.
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 ...
Normal wear and tear. "Normal wear and tear" means the deterioration that occurs, based upon the use for which the rental unit is intended, without negligence, carelessness, accident or abuse of the premises or equipment or chattels by the tenant or members of the tenant's household or their invitees or guests.
Section 92.0563 of the Texas Property Code allows a judge to order the landlord to do any of the following: Take reasonable action to repair the problem. Reduce rent based on how the value of the rental was affected by the problem. Pay the tenant one month's rent plus $500.
Reasons for which a landlord may retain the security deposit or a portion of the security deposit include, but are not limited to, covering the costs of storing and disposing of unclaimed property, nonpayment of rent and nonpayment of utility charges that the tenant was required to pay directly to the landlord.
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.
