A security deposit is a payment required by a landlord from a tenant to cover the expenses of any repairs of damages to the premises greater than normal "wear and tear." Everyday usage is normal wear and tear, but excess damage is a debated definition. A security deposit is not the same as rent. It is money that actually belongs to the tenant but is held by the landlord for tenant-caused damages and sometimes past-due rent. Without the agreement of the landlord, a security deposit may not legally be used as the last month's rent.
Laws vary by state, but some states place a limit on the amount of a security deposit that a landlord may charge. Some states also regulate where residential security deposits must be kept and when interest payments on the security deposits must be made to the tenant. State laws also define the time period after the tenant vacates within which the deposit must be returned to the tenant. Subject: Return of Security Deposit Less Deductions — Letter from Landlortenantsan— - Jersey City, New Jersey Rental Dear [Tenant's Full Name], I hope this letter finds you well. As the period of your tenancy in the [Rental Property Address] has come to an end, it is my responsibility as the landlord to address the matter of your security deposit. I would like to inform you that in accordance with the laws and regulations of Jersey City, New Jersey, I have inspected the rental premises thoroughly after your departure. Enclosed with this letter is an itemized statement outlining the deductions made from your security deposit, along with the remaining balance that will be refunded to you. [List Itemized Deductions] 1. Cleaning Expenses: As per our lease agreement, the premises were required to be returned to the same clean and sanitary condition as when you first moved in. Unfortunately, extensive cleaning was necessary to restore the property to its original state. Expenses associated with professional cleaning have been deducted from your security deposit. 2. Repair Costs: During the inspection, we identified certain damages beyond normal wear and tear. Repairs were required to fix these damages. The corresponding costs have been deducted from your security deposit accordingly. 3. Unpaid Rent or Outstanding Charges: Any unpaid rent or outstanding charges incurred during your tenancy have been deducted from the security deposit as well. Please note that the deductions have been calculated by obtaining estimates from reputable service providers in adherence to the prevailing market rates in Jersey City. You may find the detailed breakdown of expenses, including copies of invoices, enclosed with this letter. After accounting for these deductions, I am pleased to inform you that there is a remaining balance of [Security Deposit Balance After Deductions]. This amount will be promptly refunded to you within [number of days as per local regulations] from the date of this letter. We will be returning the funds via [preferred mode of payment, e.g., check or direct bank transfer]. Kindly confirm your preferred mailing address or provide the necessary banking details if you prefer a wire transfer. Should you have any questions or concerns regarding the deductions or any other matter related to your security deposit, please do not hesitate to contact me at [Landlord's Contact Information]. Please note that this letter serves as the final settlement regarding your security deposit. If you have any objections to the deductions made, I kindly request that you respond within [number of days as per local regulations] of receiving this letter. Failure to respond within the specified timeframe will imply your acceptance of the deductions provided. I sincerely appreciate the opportunity to have had you as a tenant, and I wish you the best in your future endeavors. Thank you for your cooperation throughout the tenancy period, and I trust that this process has been handled in a fair and transparent manner. Kind regards, [Landlord's Full Name] [Landlord's Contact Information] [Rental Property Address]
Subject: Return of Security Deposit Less Deductions — Letter from Landlortenantsan— - Jersey City, New Jersey Rental Dear [Tenant's Full Name], I hope this letter finds you well. As the period of your tenancy in the [Rental Property Address] has come to an end, it is my responsibility as the landlord to address the matter of your security deposit. I would like to inform you that in accordance with the laws and regulations of Jersey City, New Jersey, I have inspected the rental premises thoroughly after your departure. Enclosed with this letter is an itemized statement outlining the deductions made from your security deposit, along with the remaining balance that will be refunded to you. [List Itemized Deductions] 1. Cleaning Expenses: As per our lease agreement, the premises were required to be returned to the same clean and sanitary condition as when you first moved in. Unfortunately, extensive cleaning was necessary to restore the property to its original state. Expenses associated with professional cleaning have been deducted from your security deposit. 2. Repair Costs: During the inspection, we identified certain damages beyond normal wear and tear. Repairs were required to fix these damages. The corresponding costs have been deducted from your security deposit accordingly. 3. Unpaid Rent or Outstanding Charges: Any unpaid rent or outstanding charges incurred during your tenancy have been deducted from the security deposit as well. Please note that the deductions have been calculated by obtaining estimates from reputable service providers in adherence to the prevailing market rates in Jersey City. You may find the detailed breakdown of expenses, including copies of invoices, enclosed with this letter. After accounting for these deductions, I am pleased to inform you that there is a remaining balance of [Security Deposit Balance After Deductions]. This amount will be promptly refunded to you within [number of days as per local regulations] from the date of this letter. We will be returning the funds via [preferred mode of payment, e.g., check or direct bank transfer]. Kindly confirm your preferred mailing address or provide the necessary banking details if you prefer a wire transfer. Should you have any questions or concerns regarding the deductions or any other matter related to your security deposit, please do not hesitate to contact me at [Landlord's Contact Information]. Please note that this letter serves as the final settlement regarding your security deposit. If you have any objections to the deductions made, I kindly request that you respond within [number of days as per local regulations] of receiving this letter. Failure to respond within the specified timeframe will imply your acceptance of the deductions provided. I sincerely appreciate the opportunity to have had you as a tenant, and I wish you the best in your future endeavors. Thank you for your cooperation throughout the tenancy period, and I trust that this process has been handled in a fair and transparent manner. Kind regards, [Landlord's Full Name] [Landlord's Contact Information] [Rental Property Address]
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
