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If you’re preparing to leave your apartment, there are a lot of tasks you must accomplish. But before you start packing up your knick-knacks and loading the moving van, you’ll need to discuss the security deposit with the landlord. The following guide highlights the crucial information you need to know about this area of real estate law, so you can ensure a smooth transition. 

What Is a Security Deposit?

A security deposit is a sum of money paid to the landlord or property management company upon signing the lease. The money is meant to serve as protection against any damage done to the apartment while you are living there. Typically, most companies will ask for one-and-a-half months’ worth of rent.

When Is a Landlord Allowed to Deduct Money Due to Damage?

real estateReal estate law states that anything exceeding what is considered “reasonable wear and tear” is the tenant’s responsibility, and, as a result, allows the landlord to take out money from the security deposit. Reasonable wear includes issues like faded or peeling paint, thinning rugs, minor holes in the walls, and carpet stains. Essentially, any type of issue that comes from responsible, everyday life. 

Conversely, landlords can deduct money from your security deposit to cover excessive damage. Examples may include excessively filthy quarters, major holes in the walls, broken appliances, pet or burn stains, and broken tiles.

What Happens if the Landlord Unlawfully Withholds Your Deposit?

Under Ohio’s real estate laws, your landlord is required to return your security deposit within 30 days of your move out date. If the apartment is in acceptable condition, you should receive the full payment. If it is not, your landlord is required to include an itemized receipt that outlines any costs that were deducted from the deposit. If they don’t send the money within the required timeframe, have an attorney get in touch with them. If need be, the lawyer will draft a demand letter and file a small claims lawsuit against them. 

 

If you’re struggling to get your security deposit back, the real estate lawyers at Lane, Felix & Raisbeck CO, LPA in Cincinnati, OH, are here to help. With over 60 years of combined experience, they have an intimate understanding of the state’s laws, and they will advocate on your behalf to ensure you get the money you are owed. Give them a call today at (513) 922-7700 to schedule a consultation, and visit their website for more information on their practice. 

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