Addendum to apartment lease concerning security deposit.
Massachusetts Addendum To Apartment Lease regarding Security Deposit
State:
Multi-State
Control #:
US-895LT
Format:
Word;
Rich Text
Instant download
Description
How to fill out Addendum To Apartment Lease Regarding Security Deposit?
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FAQ
Check if your landlord can take money from your deposityou owe rent.you've damaged the property - this could be something like a spill on the carpet or a mark on the wall where you've hung a picture.you've lost or broken some items from the inventory, like some cutlery or mugs.
Your landlord must keep your security deposit in a bank account in Massachusetts. The account must be separate from the account she keeps her own money in. And every year she must pay you the interest it earns.
In Massachusetts, a landlord can request first and last month's rent, a security deposit in the amount no greater than one month's rent, and a change in lock fee. No other fees can be charged, including application fees or a pet deposit.
Damage deduction for security depositsThe landlord must return the security deposit or balance within 30 days after the termination of tenancy. However, the landlord can deduct from the full amount for: Any unpaid rent which has not been withheld validly or deducted in accordance with the law.
At the end of a tenancy, a landlord cannot ask the tenant to pay for repair or replacement for changes which were caused by fair wear and tear. Some examples of fair wear and tear are worn carpets, faded curtains, minor scuffs and scrapes on walls, worn keys and dirty windows.
The security deposit is used to compensate for the cost of repair of any unreasonable damage to the rental property caused by the tenant, other occupants, or their guests during the tenancy.
Your landlord or agent cannot keep your deposit to cover putting right normal wear and tear.
Landlords in Massachusetts must also pay tenants 5% interest on the security deposit per year, or the amount of interest paid by the bank (the bank must be in Massachusetts). Interest should be paid yearly, and within 30 days of the termination date.
What are the common reasons for deposit deductionsUnpaid rent at the end of the tenancy.Unpaid bills at the end of the tenancy.Stolen or missing belongings that are property of the landlord.Direct damage to the property and it's contents (owned by the landlord)Indirect damage due to negligence and lack of maintenance.More items...
