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106
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16
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Terry N.
  • Architect
  • Raleigh, NC and Mid Michigan
16
Votes |
106
Posts

Security deposits and early lease termination

Terry N.
  • Architect
  • Raleigh, NC and Mid Michigan
Posted

Can a landlord request that the security deposit be forfeited if the renter requests to get out of the lease a month early?  I want to work with them but don't think I have anything in the lease that states that they lose a portion of the security deposit.  Or am I bound to the restrictions of the security deposit as only to be used for repairs over and above normal wear and tear?

Most Popular Reply

User Stats

98
Posts
18
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Adam Demchik
  • Rental Property Investor
  • Oxford, MI
18
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98
Posts
Adam Demchik
  • Rental Property Investor
  • Oxford, MI
Replied

I typically try and work with a tenant when they move out early for two reasons:

1.)  They are much more likely to leave the place in good shape (I actually tell them that if they leave it in decent shape I will not use the security deposit for unpaid rent).

2.)  I typically rent in small towns and having a good reputation is often what gets me additional renters

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