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Five Quick Tips For Landlord Deposit Return Form | Landlord Deposit Return Form

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This column was contributed by a association member.

No, that’s acceptable not legal.  Beneath Georgia law, if a addressee gives able apprehension and vacates the assemblage afterwards attributable any hire or damages, the freeholder charge acknowledgment the abounding aegis drop to the addressee aural thirty days. 

A aegis drop is a anatomy of aegis (typically money) that the addressee gives to the freeholder at the alpha of the lease.  It’s meant to assure the freeholder if the addressee vacates the assemblage afterwards authoritative appropriate payments, or if the addressee amercement the assemblage above accustomed abrasion and tear.  A aegis drop can accommodate accident deposits, beforehand hire deposits and pet deposits, but it does not accommodate non-refundable fees or amounts that are activated against acquittal of rent, casework or utilities provided to the tenant. Appliance fees or deposits to authority an accommodation until you absolutely assurance a charter are not advised aegis deposits, and are usually not refundable if you accept not to move into the unit.

Under Georgia law, a freeholder who owns added than ten rental units or who has a administration abettor should abode your aegis drop in a coffer escrow account, acclimated alone for aegis drop funds.  The freeholder charge let you apperceive in autograph the area of the escrow account.  Instead of an escrow account, the freeholder has the advantage of announcement a band with the above cloister in the canton area the rental assemblage is located.  The band is to accomplish abiding aegis deposits are alternate to tenants if the freeholder goes broke or if the acreage is foreclosed.

Additionally, beneath Georgia law there is a action that landlords should chase afore accession your aegis drop at the alpha of the lease, and above-mentioned to abiding any allocation of the aegis drop owed at the end of the lease:

You may ambition to seek acknowledged admonition if your freeholder break keeps any allotment of the aegis drop which should be alternate to you.  If the freeholder keeps the money afterwards able cause, he would be appropriate to acknowledgment the bulk withheld, and may accept to pay an added penalty.

A Few Tips Back Signing a Lease:

Consumer Ed is brought to you by the Governor’s Office of Customer Protection. Go to ConsumerEd.com to abide your catechism and apprehend added customer tips.  Remember…we do not accord acknowledged advice.  Always argue a advocate about acknowledged issues.

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