security deposit

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security deposit (by Vickie Taylor [VA]) May 23, 2009 11:25 AM

security deposit (by rentman [VA]) May 23, 2009 4:36 PM

security deposit (by AllyM [NJ]) May 23, 2009 5:23 PM

security deposit (by BRAD_IN [IN]) May 23, 2009 6:44 PM

security deposit (by Wallace CPM [VA]) May 24, 2009 3:44 AM

security deposit (by Vickie Taylor [VA]) Posted on: May 23, 2009 11:25 AM
Message:

State Specific Question About: VIRGINIA (VA)

Do you recommend alternative language to security deposit in a lease. --70.161.xx.x

security deposit (by rentman [VA]) Posted on: May 23, 2009 4:36 PM
Message:

like what?

forsigerrongs gild or cash in case you trash --76.5.xx.xxx

security deposit (by AllyM [NJ]) Posted on: May 23, 2009 5:23 PM
Message:

No one has complained about those words yet. I'm sure security deposit is just fine and most people know what that means. It doesn't sound offensive either. --76.99.xxx.xx

security deposit (by BRAD_IN [IN]) Posted on: May 23, 2009 6:44 PM
Message:

I like the term - everyone understands and expects it.

However, we get around it to make more moeny AND make our tenants happy:

If the advertised deposit is $500, the lease shows it on 2 lines $300 SD and $200 Exit Cleaning Fee.

We explain they must leave it "broom clean" (the term used in the state law). We will handle the required professional carpet shampoo and the housekeeper will scrub the toilet, etc. They usually say "Great! I hate doing that stuff!"

We were sending in the housekeeper anyway to put a shine on the house. No matter how clean the toilet, tub, etc, she still re-cleans them.

It has held up in court every time.

One local LL is doing NO DEPOSIT but he is charging an extra $25 per month.

We have strict laws about returning deposits. Without collecting a deposit, he does not have to worry about those laws.

--69.243.xxx.xx

security deposit (by Wallace CPM [VA]) Posted on: May 24, 2009 3:44 AM
Message:

In VA there are two landlord tenant codes - 1 for property owner with 10 or more units and 1 for owners with less than 10 units.

Code #1 is the Virginia Residential Landlord Tenant act

Code #2 is the Virginia LANDLORD tenant act...use this code if it applies to you. No interest on deposit AND put in your lease you have 45 days after move-out to account for their deposit --71.48.xxx.x

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security deposit

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