Common use of Return of the Security Deposit Clause in Contracts

Return of the Security Deposit. This security deposit may be used by the Landlord after the tenancy has ended to repair damage to the residence and for the actual costs of unpaid rent, storing and disposing of unclaimed property, or other charges the tenant owes to the Landlord. The Landlord will return the entire security deposit to the Tenant within 21 days after the end of the lease if the following conditions are met: 1) The apartment is in good condition except for normal wear and tear. 2) The Tenant does not owe any rent, utility, or other charges which the Tenant was required to pay directly to the Landlord, including charges for late fees and bounced checks; and 3) The Tenant has not caused the Landlord expenses for storage and disposing of unclaimed property. 4) All keys to the property have been returned. If the Landlord deducts money from the Tenant’s security deposit, the Landlord will provide the Tenant a list of the items for which the Tenant is being charged and return the balance of the security deposit.