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How to Manage Your Security Deposit When Renting an Apartment

Did you recently start renting an apartment and begin listing all of the things you need to do? One thing you should have on that list is the importance of managing your security deposit. 

It can be stressful having to worry about whether you are going to get your money back from your landlord. Keep reading for what you need to know about how to protect your deposit. 

Manage Your Lease Agreement

You should make an agreement with your landlord before you move into the apartment. This will list all of the rules and requirements there are for your specific living arrangements. It will include details like notice for moving out, wear and tear on the house, and who is responsible for what. 

Make sure that you know what your obligation is to take care of while you are living in this residence so that you don't get charged for apartment repairs or other fees. Lease agreements are legally binding documents that can support you if you need to pursue action in a court of law. 

Give Sufficient Move Out Notice

These rules vary from state to state, however, if you do not give your landlord typically at least 30 days' notice when moving out you could be charged for an extra month's rent. This can either be taken out of your deposit or take an extra month to receive any of the deposit. Depending on how much rent costs you this could add up to nearly your whole deposit. 

Repair Damages Made

The cost of damages is the main way landlords can deduct money from your deposit. If you spend the time to fix the repairs instead of leaving it to professionals you will save much more money. Landlords can price items on the high end, but if you just fix issues yourself you can do it the cheapest way possible. 

Request A Walkthrough

Prior to moving out, you should request your landlord to do a walkthrough of your property with you so that you can pinpoint any needed updates. This is great because you won't have to worry about wasting time on the parts of your house that don't need attention. Instead, complete their requests, and you should generally know if you will get a fair chunk of your deposit back before you move out. 

Return All Items

You can be charged if you don't leave all of the items that are owned by the landlord. Some apartments offer special amenities so it can be easy to forget to leave behind everything. This includes mail keys, house keys, gate keys, and anything that was in the house when you moved in. 

Protect Yourself When Renting An Apartment 

Your main priority when renting an apartment should be to make sure that you protect yourself so that you can get your full security deposit back. If you follow the advice from this article you will increase your chances. Having a good relationship with your landlord while covering yourself and doing what is listed above will ensure a security deposit return. 

If you want to find a place to live where you can feel secure take a look at what we have to offer.