X
Sign In

Please sign in or register below for a new account to receive daily property alerts and manage your favourites

Email

Password

     

By clicking "Sign In or Register", you agree to Seeff's Terms and Conditions.

 
Property Types








On Show Properties Only

What happens with a tenant’s rental deposit?

11 October 2018
Mail
Facebook Share
Tweet
Google Plus

This deposit is placed into a trust account and the interest accrues for the benefit of the tenant over the duration of the lease. 

At the end of the lease, the tenant should give notice to the landlord if they intend to move out. Should the tenant vacate the premises at the end of the lease, the deposit together with interest will be returned to the tenant provided that there are no damages and all amounts due to the landlord have been paid. 

If there are damages to the property, then the deposit will be used to pay for repairs for such damages and the balance returned to the tenant.