Security deposit in India can be between 100% to 200% of the monthly rent. Every renter wishes to get it back at the time of moving out.
It is very important to understand the concept of the security deposit and equally vital to read the terms related to it before signing the rent agreement.
There are plenty of reasons why a Renter can lose the security deposit. Renter should know the reasons which may hurt his/her pocket after losing the deposited amount. Keeping in mind the situation of Renter we have jotted down a few reasons which should be considered when moving out.
1. Property not cleaned
You can’t leave the rental unit dirty and messy when moving out. The Lister may use your deposit to cover the expenses of cleaning the place. You must keep the place in pristine condition to avoid the loss of security deposit when you move out.
2. No prior notice was given by Renter
Renter needs to give proper notice when he/she decides to move out. Normally 30 or 60 days’ notice is given in writing to Lister. In case you are failed to provide the prior notice then the Lister will reimburse the rent payment from your security deposit that you were responsible to pay. It’s always advisable to give a proper notice beforehand when you plan to move out of the property to save your security deposit.
3. Renter left the unusable stuff behind
Your stuff must go with you when you move out. In case you leave it behind for the landlord to throw away, the clearance costs will be paid from your security deposit.
4. Renter didn’t read the rent agreement
The most common mistake renter’s make is they never read the rent agreement properly. Don’t rush, read the agreement as it has all the details related to the security deposit. Take out ample time to read the rent agreement thoroughly and get your security deposit easily when you move out.
We know that losing the deposit amount is a big loss and any Renter will never want to experience it. Therefore, if you keep in mind the above-mentioned points, it will be going to save you from the loss of your security deposit. RentScribe has made the rent agreement digital so that the renter can read the entire agreement on the mobile application. Get connected with RentScribe and save your security money.
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