What is a security deposit?

What is a security deposit?

Answer:

A security deposit an amount of money (or value thereof) given to the landlord in addition to the rent paid in respect of the residential premises. It is held as a security for any damages, obligations, or liabilities incurred by the tenant while renting the premises.


Views: 2497        Posted on: Apr 30 2012        Tags: Definitions, Security Deposit, Lease