Protecting Your Memphis Apartment Security Deposit
Feb 6th, 2008 by Memphis Apartments
Your security deposit is a very important part of living in a Memphis apartment. It is a guarantee to your landlord that you will obey the rules and not damage the Memphis apartment in any way. However, if damage does occur, it ensures that the landlord will be able to pay for it, out of the deposit.
This is why it is incredibly important that before you leave a Memphis apartment, you ensure you have cleaned and repaired any damage which the landlord may be able to use as grounds to take money out of off your security deposit.
When you first see the Memphis apartment, it is important that you make a list of everything that may be damaged in the Memphis apartment. The list you make should be accompanied by photographs that will be able to document any issues or damages that may be in the Memphis apartment when you initially take possession of it. All the details of the Memphis apartment, even chips in paint, need to be documented in great detail by you. Make sure the landlord signs the document to ensure there is no disagreement later on.
When you give the deposit, ask for a receipt from your landlord and keep a copy of your cancelled check (used for direct deposit). You should never pay your security deposit in cash.
While living in the Memphis apartment, you need to take care to keep it clean to prevent insect and rodent infestations. You should also make repairs as needed, instead of waiting until you move out of the Memphis apartment. If a repair needs to be done by a professional, talk to your landlord. Also make sure you pay your rent on time and in full. Keep a receipt every time you pay your rent. If your rent is late, the landlord will be able to deduct late fees from your security deposit. However, make sure that there is a clause for that in your lease agreement.
When you decide to leave your Memphis apartment, you need to do a walk through with your landlord. Make sure you have the list and photographs compiled so that the landlord can see the damage that was present during the initial move-in.
If everything looks okay for the landlord, they will sign the checklist you have created with a list of the problems that have been fixed. Most likely the deposit will be sent to your new address if it is not given to you immediately.
The security deposit is important for both the landlord and tenant, and by making sure everything is how it was when you moved in, you will be able to ensure there will be no problems on move-out day.