The security deposit is an amount that the tenant pays to the landlord over and above the monthly rent. This amount is returned back to the tenant when he/she moves out of the rented apartment. Whether you plan to stay in a paying guest in Bangalore, house on rent in Delhi or an apartment in Mumbai, you cannot skip the security deposit. However, if the tenant damages the rented property, there stands a chance of losing some or the entire security deposit. So, do you want to assure yourself on how to get your full security deposit back? Here are 5 things that you need to keep at bay to secure your security deposit:
- Signing the lease agreement without reading
This is not a mistake, but a blunder. Getting a dream apartment at an affordable cost should never deter you from reading what is written in the lease document. Don’t get pressured to put your signature on the document. You ought to read the lease carefully and attentively in order to have a clarity on the terms and conditions with regard to moving out and security deposit withdrawal.
- Not taking the picture of the property before moving in
Imagine this. You finalized a beautiful house on rent in Delhi. Now it had some wear and tear but you ignored it because the area was good and so was the rent. But after few years when you were moving out, the landlord refused you your security deposit or deducted a large chunk of it because of the damage that you didn’t do.
Thus, it is advised that you must take pictures of any damage or wear & tear before moving in. The landlord must put his signature at the back of the picture along with the date. This way, the landlord cannot put blame on you for the damage you haven’t done and thus, no harm is made to the security deposit.
- Not getting written permission for modifications
The renters usually don’t get the freedom to make modifications in the rented home. If you make any modifications such as a hang a chandelier or install LED on the walls of the room or affix the cupboard liners without a written permission of the landlord, there can be a potential dispute which can make you lose the security deposit.
- Misunderstanding the lease terms
There are various words in the lease agreements which can be interpreted differently. It is of great importance to take clarifications for such phrases before signing the lease document. The difference in interpretations will create troubles at the time of moving out and return of security deposit.
There are few landlords who completely prohibit pets inside their apartments while some allow pets, but the tenants are required to pay for the damage done by cats or dogs who urinates on the carpets or scratches up the apartment’s floors. The pet behavior is inevitable and the tenant might not get the entire amount in case costly repairs are required to be done to the rented house.
By keeping these things away you can surely shell out the entire amount you paid in the form of security deposit.
3 thoughts on “Keep These 5 Things At Bay To Safeguard Your Security Deposit”
I followed your content and before i have been purchased a luxury property in mumbai before some days but now i am not happy to my flat so give me any suggestion what i do?
Security Deposit is the amount when a person takes an Apartments for rent in an agreement.
Yes vibhor gupta some developers take security money, but i know a developers those flats you can buy without pay any security money name is birla kalyan