SECURITY DEPOSIT TERMS Clause Samples
The Security Deposit Terms clause outlines the requirements and conditions related to a security deposit provided by a tenant to a landlord. It typically specifies the amount to be paid, the timing of payment, acceptable forms of payment, and the circumstances under which the deposit may be withheld or returned, such as deductions for damages or unpaid rent. This clause serves to protect the landlord against potential losses from tenant breaches or property damage, while also clarifying the tenant’s obligations and the process for recovering the deposit at the end of the lease.
SECURITY DEPOSIT TERMS a) Before moving into the UNIT, TENANT must pay the SECURITY DEPOSIT amount listed in Paragraph 5.
b) TENANT may not apply or use the SECURITY DEPOSIT for payment of RENT under the LEASE.
c) TENANT agrees that during the TERM or prior to returning the SECURITY DEPOSIT to the TENANT, LANDLORD may decide to use all or part of the SECURITY DEPOSIT:
1) to pay for damages caused by TENANT to the UNIT and/or the PROPERTY; and/or
2) to pay for any unpaid RENT or additional charges owing to LANDLORD. If during the TERM all or part of the SECURITY DEPOSIT is used in the manner described above or for any other reason as permitted by law, TENANT will immediately deposit with LANDLORD the amount needed to replenish the SECURITY DEPOSIT to equal the amount listed in Paragraph 5.
d) Provided TENANT:
1) gives LANDLORD written notice of TENANT'S new address; and
2) did not damage the PROPERTY; and
3) paid all RENT and additional charges in full; and
4) fully performed all responsibilities under this LEASE. then LANDLORD will mail TENANT’s SECURITY DEPOSIT to TENANT within 15 days after termination of the LEASE or surrender or abandonment of the UNIT, unless statutes provide otherwise. If Landlord intends to impose a claim on the SECURITY DEPOSIT, LANDLORD will mail TENANT’s SECURITY DEPOSIT (less lawful deductions) and an itemized accounting of any deductions no later than 30 days after termination of the LEASE or surrender or abandonment, unless statutes provide otherwise. See Paragraph 43.
e) A copy of the move-out procedures, which detail the cleaning and UNIT standards as well as the potential charges, may be obtained from LANDLORD at TENANT’s request. TENANT is responsible for cleaning the UNIT, including all Common Areas, thoroughly and following all of LANDLORD’s cleaning instructions prior to move-out. If TENANT does not clean UNIT to LANDLORD’s specifications then LANDLORD will charge TENANT a reasonable fee for the cleaning of the UNIT. If UNIT is furnished, TENANT will be responsible for the cost, if any, for relocating the furniture in the UNIT to the appropriate place within the UNIT. Common Area damages will be split amongst all tenants in the UNIT. Bedroom damages will be split amongst all tenants who have leases for that specific bedroom.
f) A fifteen percent (15%) administrative charge will be added to all damage/cleaning/painting charges to the UNIT when resulting from damages caused by tenants. Charges for damages may occur at any time during the TERM.
SECURITY DEPOSIT TERMS. This Security Deposit shall not limit Expedia’s rights or Decolar’s obligations hereafter. Upon termination of this Agreement all or a portion of the Security Deposit may be retained by Expedia if Decolar has not fully performed all of its obligations under this Agreement and those imposed by law throughout the Term of the Agreement
SECURITY DEPOSIT TERMS. The following terms and conditions apply to a Security Deposit:
a. Before moving into the Unit, Resident must pay the Security Deposit amount listed in Paragraph 3.
b. Resident may not apply or use the Security Deposit for payment of Rent under the Lease. Under no circumstances is Landlord obligated to apply the Security Deposit to Rent or other charges in arrears.
c. Resident agrees that prior to returning the Security Deposit to the Resident, Landlord may use all or part of the Security Deposit: to pay Landlord’s costs to return the Unit to move in ready condition and repair or restore damages caused by Resident to the Unit or the Property; provided that within the time period required by law irrespective of whether Resident has vacated or abandoned the Unit, Landlord shall deliver an itemized list of the repairs completed by Landlord and the cost associated with such repairs. Landlord has the right, but not the obligation, to apply the Security Deposit if Resident fails to pay Rent or Additional Rent, Utilities, and any other applied fees provided Landlord delivers an itemized list of the nature and cost of the repairs to which required.
d. Landlord will return the Security Deposit, less any outstanding charges, within the time frame required by local or state law provided Resident gives Landlord written notice of Resident’s new address. It is expressly acknowledged and agreed by Resident that the Security Deposit will not be Landlord’s limit of damages if Resident violates this Lease, and Resident may be liable for damages in excess of the Security Deposit. Among other items, the cost of labor and materials for repairs, in excess of “normal wear” and the amount of delinquent payments of Rent and other charges, and late charges, may be charged by Landlord at the end of Term.
SECURITY DEPOSIT TERMS. The Hirer must pay the Security Deposit no less than 10 business days prior to the Hire Date.
SECURITY DEPOSIT TERMS. Before moving into the UNIT, TENANT must pay the SECURITY DEPOSIT amount listed in Paragraph 5.
SECURITY DEPOSIT TERMS a) Before moving into the UNIT, TENANT must pay the SECURITY DEPOSIT amount listed in Paragraph 4. The SECURITY DEPOSIT is being held at Citizens Bank.
b) TENANT may not apply or use the SECURITY DEPOSIT for payment of RENT under the LEASE.
c) TENANT agrees that during the TERM or prior to returning the SECURITY DEPOSIT to the TENANT, LANDLORD may decide to use all or part of the SECURITY DEPOSIT:
1) to pay for damages caused by TENANT to the UNIT and PROPERTY; and/or
2) if TENANT fails to pay RENT or ADDITIONAL RENT; and/or
3) any other reason as required by law. If the SECURITY DEPOSIT is used in the manner described above, the TENANT will immediately deposit with the LANDLORD the amount needed to replenish the SECURITY DEPOSIT to equal the amount listed in Paragraph 4.
d) ▇▇▇▇▇▇▇▇ will return the SECURITY DEPOSIT within thirty (30) days of the end of the TERM or within thirty (30) days of TENANT leaving and turning in the keys, if TENANT: gives LANDLORD written notice of TENANT'S new address; and