What Step of the Renting Process Should the Security Deposit be Paid?

By Tenant

The security deposit is usually equivalent to a month’s worth of rent.  In some cases, it could be higher.  The tenant laws are available to make sure that we could get our security deposit back once we decide to move out.  But the use of the security deposit depends on each state.  For instance, in California the security deposit can be used to pay for last month’s rent but in most other states that’s not acceptable because the security deposit there will only be used for repairs that are beyond normal wear and tear.

I understand all these but my experience regarding security deposit is quite different.  Well, it may not be very different but it rarely happens to the people I know. So I’m sharing this with you in case you are experiencing this too.

So we were ready to rent a home and the agent from the property management showed us this beautiful home that just fits our budget.  The next step of the process is to fill out the application so that we would be approved for the home.  I understand it involves some credit checks, background history, and perhaps tenant or renting history. I don’t have any problem with any of that because I know that I’m a very good payer and I have a relatively high credit score.

However, the agent wanted us to pay the security deposit even without seeing the lease agreement yet.  So we thought that’s not possible.  And we actually did the right decision by declining to proceed with the application.

Here are some points for you to remember before signing anything.

1. Do not give the security deposit if you haven’t read the lease agreement yet.  This is supposed to be common sense but sometimes, when we are at the height of our emotions we forget to stop and think things through.
2. If you have the lease, ask if it’s possible for you to take it home and review it clause by clause.  Check if the security deposit can be used to pay for last month’s rent or not.  We also need to check as to what damages are considered beyond normal wear and tear and where the security deposit would apply.  Another point that you need to check would be how long it would take for the landlord to send you back your security deposit from the time that you moved out.
3. The security deposit should always be refundable.  If the lease says that it is nonrefundable, then it is illegal.
4. Paying the security deposit is the last step off the process.  Once you pay it, keys will be turned over and you should be able to move in to the new home.  If it’s the other way around, then don’t trust that landlord.

So there you go.  These are some of the most basic facts that you need to know about security deposits.  Be wary of landlords or agent who to get the security deposit from you before you could even sign the lease agreement because they could be up to something that you may not like in the long run.

For problems involving security deposit that you cannot resolve on your own, know that there are private organizations out there who are willing to step in and find a solution for you.  One of those organizations will be RPA.  They have a complaint center that you could use too. I believe this is the link http://www.rentalprotectionagency.com/complaint_center.php.

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