Reasons Not to Return Your Tenant's Security Deposit
When a tenant moves into your rental property, they normally will pay you or the property manager a security deposit. This amount is normally equal to one month’s rent and is held by the landlord/manager until the end of the duration of the lease. In Texas, landlords or managers are required to return the deposit within 30 days of the tenants move out. However, there are a few scenarios where the landlord is given the right to retain this deposit.
Nonpayment of Rent
Most states, including Texas, allow the landlord to retain the security deposit in the event your tenant begins to forego paying their rent. Your tenant, by definition, is contractually obligated to pay their monthly rent and failure to do so entitles you, the landlord, to keep the amount equal to past due rent.
The Lease is Terminated Early
If your tenant decides to terminate their lease before it expires you have the right to retain all or part of the security deposit to cover any costs associated with the lease. The specific wording may vary across lease agreements so double check yours to make sure you are entitled to this. A typical Texas Association of Realtors lease will have a clause written in it protecting the landlord in the event of a lease termination.
Damage to the Property
Damages to your rental property entitle you to retain your tenant’s deposit. However, normal ‘
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