Six Mistakes That Could Cost You Your Rental Security Deposit

Most security deposits on rented properties tend to be significant amounts of money. It could be a blow to your finances if you lose your security deposit when you move out of a rented property.

Unfortunately, a lot of renters unknowingly make mistakes that put their security deposit at risk. While you know you could lose your deposit if you damage your rented property, this is not the only way you can lose a deposit.

The following are six mistakes to avoid that could cost you your rental security deposit if you're not careful:

Trying to sneak a pet in

A lot of people are tempted to sneak a pet into their rented property because they can't find an affordable rental that permits pets.

However, your landlord might make it difficult for you to get your security deposit back if he or she finds out they you've been keeping an animal on the premises without permission.

Doing serious interior decorating without asking

It's always important to remember that a rented property does not belong to you. You cannot make permanent changes to the structure by remodeling unless you have the permission of the owner.

Even painting or putting nails in the wall to hang pictures might cost you down the road. Be sure to check with your landlord about any interior decorating you're planning on doing to avoid risking your deposit. 

Making late rent payments

Depending on the terms of your rental agreement, your landlord may be able to penalize you for making late payments.

When it comes time for you to move out, your landlord might decide to take late payment fees out of your security deposit. Pay attention to the terms of you rental agreement and always make rent payments on time to protect your deposit. 

Housing too many people in your rented property

Some landlords restrict the amount of people who are permitted to live on their property or the amount of guests the renter is allowed to have. Pay attention to any of these restrictions or your landlord might make it difficult for you to get your full deposit back.

Violating lease terms

Landlords are allowed to withhold a security deposit if the renter violates lease terms by moving out early. If you must move out early, understand that your chances of getting your deposit back are slim.

Moving out without cleaning first

If your landlord feels that it's necessary to do a thorough cleaning of your property when you move out, he or she may take cleaning costs out of your deposit before giving you your deposit back. Make sure you clean thoroughly when you're moving out to maximize your chances of getting your full deposit back.

Contact a rental company, like Missouth Properties, for more help.