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I have a question about security deposits

Started by radhaG
over 16 years ago
Posts: 1
Member since: Sep 2009
Discussion about
Or actually no security deposits. We are looking at a place from a big landlord and one of their selling points was that if we have good credit (we do) then we don't need a security deposit. So if there is damage, what happens at the end? I'm not saying that we cause real damage but sometimes things happen and we also might like to install something that could mean there are holes when we move out that aren't so easy to repair without replacing a couple of panels. Not that the specific details matter, but what does the landlord do in that instance if they didn't get a security deposit?
Response by drdrd
over 16 years ago
Posts: 1905
Member since: Apr 2007

Bill you and/or sue you, no? If the LL doesn't want to eat the expense, they'll come after you.

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Response by clacker
over 16 years ago
Posts: 2
Member since: Sep 2009
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Response by clacker
over 16 years ago
Posts: 2
Member since: Sep 2009
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Response by mag1980
over 16 years ago
Posts: 31
Member since: Jul 2009

I think it's fine if the landlord doesn't want to charge you a security deposit. Like drdrd said, if there's any damage the landlord would bill you, and if you didn't pay, ultimately sue you.

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Response by dd8881
over 16 years ago
Posts: 4
Member since: Apr 2009

Leaving a security deposit doesn't mean you're off the hook for any damages - just gives the LL some assurance that if there is damage they'll have some money w/o having to sue you.

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Response by glamma
over 16 years ago
Posts: 830
Member since: Jun 2009

they will not sure you unless the damage you cause costs more than litigation - highly unlikely

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Response by Squid
over 16 years ago
Posts: 1399
Member since: Sep 2008

Glamma is correct--it is highly unlikely a landlord would go to the trouble/expense of suing you unless you caused an enormous (several thousand dollars worth) amount of damage.

If the landlord has decided to dump the security deposit as an incentive to prospective renters (not a bad business decision in this environment), then he's clearly planning to assume the costs of minor damage to the apartment. Things like the holes you are describing would likely fall into the category of minor damage.

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Response by smacstein
over 16 years ago
Posts: 112
Member since: Mar 2009

Peter Cooper refunded my security deposit when I renewed my lease.

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Response by qwerty
over 16 years ago
Posts: 139
Member since: Oct 2007

Take the deal from the landlord, just don't be a total F-ing slub, clean the place (including the bathroom) like a civilized person. Don't let mold overtake the bathroom and you'll be golden. If you ARE a slob and mold overtakes the bathroom then you should expect to (and deserve to) get sued for the costs relating therefrom.

Sounds obvious doesn't it?

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Response by qwerty
over 16 years ago
Posts: 139
Member since: Oct 2007

oh, and, clacker is an F-ing slob.

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Response by Squid
over 16 years ago
Posts: 1399
Member since: Sep 2008

>>Don't let mold overtake the bathroom and you'll be golden. If you ARE a slob and mold overtakes the bathroom then you should expect to (and deserve to) get sued for the costs relating therefrom.<<

Ah, qwerty. Still grousing about that dratted mold after all this time, eh?

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Response by 30yrs_RE_20_in_REO
over 16 years ago
Posts: 9877
Member since: Mar 2009

Perhaps they are becoming so accustomed to people using their security deposit as last month's rent (i.e. not paying the last month's rent on the lease) and realizing that there isn't really much they can do about it, that in a down market decided to turn giving up not much of anything into a good competitive advantage as a sales point. Whenever you can give up something which in reality doesn't mean too much to you as a "seller" (in this case, selling the lease) and have it make a meaningful impact on your marketing of the item, it's a good idea to implement it.

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