Can you use your\u00a0house deposit\u00a0as last month’s rent? This question is common among\u00a0tenants vacating their apartments. When you first moved in, you probably forked\u00a0over a sum (typically amounting to one month’s rent) to cover any repairs that might be required\u00a0on your place once\u00a0you move out. <\/p>\n\n\n\n
Typically this deposit is returned once the landlord sees you’ve left the place in decent shape. So what’s the harm in having that deposit serve as your final rent payment so you can simply move on without all that back-and-forth?<\/p>\n\n\n\n
In many ways,\u00a0using your deposit as last month’s rent makes perfect sense: You won’t have to pester your landlord for the deposit, while your landlord\u00a0won’t have to give it back. Still, while this happens\u00a0all the time and rarely causes\u00a0repercussions, this practice\u00a0can<\/em>\u00a0come with\u00a0risks.<\/p>\n\n\n\n Tenants should check their lease, but there is a good chance it will say that it is not<\/em> okay to do this. <\/p>\n\n\n\n The reason is simple: The landlord wants the deposit to cover, among other things, damage to the property. If the security deposit is used for last month\u2019s rent, it will no longer be available for any other purpose.<\/p>\n\n\n\n If you leave your apartment in good condition, then your landlord is unlikely to care much. However,\u00a0if you leave the apartment\u00a0in poor shape and there is no deposit left to\u00a0bring it back up. Then\u00a0your landlord might come after you to cover\u00a0the cost of repairs.<\/p>\n\n\n\n Where you live, and the local laws there, can also affect how landlords react.<\/p>\n\n\n\n You’ll want to know what the property’s management thinks. Note, for instance, some management boards state that ‘a security deposit should not be used as a final month’s rent.<\/p>\n\n\n\n Still, even if the management doesn’t catch up with you, there are other ways a landlord can haunt you long after you’ve moved out.\u00a0For instance: If a\u00a0new or prospective landlord asks to speak with your previous landlord and hear what kind of tenant you were, it won’t bode well if you just bailed\u00a0without a trace. This\u00a0could make new landlords cautious of welcoming you as a tenant,\u00a0which could complicate your plans to find a new place.<\/p>\n\n\n\nUsing your house deposit as last month’s rent: What could go wrong?<\/strong><\/h6>\n\n\n\n
Why you shouldn’t leave your landlord in a fix<\/strong><\/h5>\n\n\n\n