Austin Apartments – Security Deposit Basics

By ApartmentPros on January 21, 2011 In Business

Whenever you lease an apartment in Austin you will almost definitely end up being asked to shell out a security deposit. In a good number of instances, the deposit will be $100 to $300 or up to a single month’s worth of rent depending on credit issues, and it may well be even more. Your current property manager is within their legal rights to ask that you pay a security deposit, however there are usually a number of points you ought to know concerning the security deposit well before you sign a lease contract and move into the property.

Just what is the security deposit meant for? Any time you lease an apartment in Austin, you will probably be expected to pay a security deposit in order to safeguard the property owner’s interests. In the event that you fail to come up with your regular monthly payment or in the event that you break your current lease, the property manager may possibly be in a position to keep your security deposit in order to recover the losses he or she endures. Likewise, if perhaps you cause damages to the apartment prior to moving away, your landlord may retain the funds or a part of the funds in order to help make repairs to the unit. In cases where the property manager does keep all or even a part of your security deposit, they should supply you with a comprehensive account of exactly why the cash was kept. For instance, if perhaps you caused impairment to the property, the property manager needs to detail that expenditure as well as show the reason why the money has been kept.

Exactly what is a security deposit not really meant for? A few dishonest landlords may try to hold the security deposit whenever a person moves out of the dwelling, and many get away with this simply because their previous tenants quite frankly do not really understand their own legal rights. One particular thing which a security deposit is in no way for will be wear and tear. When the stove in the unit must be exchanged just because it’s broken down or maybe the wall surfaces have to be repainted simply because the paint is getting lackluster or discoloured, you are certainly not required to fork out for these kinds of expenses. In the majority of states, landlords are usually required to return the security deposit inside of thirty days after the renter moves out of the property. It can be a very good idea to check with your state in the event that you are unclear regarding the time-frame your property manager has got.

Planning for issues. In the event that your thirty days has come and gone since you moved from the apartment and your property manager still needs to return your security deposit, it could be time for you to file a claim in small claims court. To be able to get ready for this particular possibility, it is best to document the condition of the actual unit before you decide to move in as well as at the time you move out. Getting photos can be another wise decision because this can give the judge a visual concept of the health of the place both before and after you lived there.

Even though nobody anticipates experiencing difficulty with getting his or her security deposit back when moving from an apartment in Austin, it is almost always smart to plan for the worst scenario. This way, you’ll be protected whatever the situation turns out to be.

Information regarding Austin Apartments and rentals can be obtained from many different sources. Austin Apartment Pros is a locally-owned, free apartment locating service specializing in apartments in Austin, Round Rock apartments and Cedar Park apartments. If you would like professional assistance with your search for apartments in Austin TX please visit us online for more information.