Shadow
Podcast

Can A Landlord Keep A Tenant’s Security Deposit

Performance Property Real Estate Question

Q: My lease expired and I’m moving out of my apartment next week. I asked my landlord for my security deposit and he said I would have to wait until after I move out. Can my landlord keep my security deposit? Grace, Bayonne, NJ

A: The purpose of a security deposit is to create a backstop for potential damage done by a tenant beyond normal wear and tear while they occupy a property during a lease. A landlord has 30 days to return a security deposit after a lease has expired. Your landlord could withhold some or all of your security deposit if they can substantiate that there was damage done to your apartment while you were living there beyond ‘normal wear and tear’. It’s a good idea to take photos and video of any property you rent at the beginning of your lease so you have evidence of the before and after condition to reduce the likelihood that your landlord could withhold some or all of your security deposit for damage done during your lease. Thanks for your question, Grace.

For more real estate tips and information visit my blog at geraldlucas.com.