This office lease clause states that the amount of the security deposit shall be increased to reflect the increase in Base Rent. The Owner shall at all times have and maintain two full months' Base Rent as security.
North Carolina Clause Providing for the Periodic Increase in the Tenant Security to Reflect Increases in Base Rent
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FAQ
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.
Keep in mind in North Carolina, there is no limit on how much landlords can raise the rent.
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 ...
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.
For a weekly agreement, the maximum you can charge as a security deposit is 2 weeks' worth of the rental payment. For a monthly lease, you must not charge any amount exceeding one and a half month's worth of rent. For fixed-term leases, the maximum you can charge is the equivalent of two month's worth of rent.
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.
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.
The North Carolina Office of Administrative Hearings and the Fair Housing Act prohibit landlords from discriminating against potential tenants because of their race, religion, familial status, sex, gender, etc.
