Tidbits on Security Deposits
In California, most rental agreements require a security deposit. Usually, the amount is equal to one month’s rent, however, the security deposit can go as high as three month’s rents, depending on different situations.
The necessity for a security deposit is to ensure the landlord against default by the resident, cleaning, and for the cost of repairs concerning any damage explicitly specified in the rental agreement and that did occur.
Once you have vacated the home and hand over the keys, the landlord has a timeframe in which to furnish the resident with an itemized written statement of the basis for, and the amount of, any security withheld and shall return any remaining portion to the resident.
If you have any questions or concerns about the security deposits or for any other questions you might have, head over to the California State Legislature’s website to look up the California laws.
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This article is not intended to be exhaustive or a substitute for qualified legal advice. Laws and statutes are always subject to change and may vary by county or city. You are responsible for performing your research and complying with all laws applicable to your unique situation.
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