The Miami apartment security deposit is any money that is given to the landlord by the tenant to protect the landlord against unpaid rent or damages to the premises. Any rent that is paid in advance is considered part of the security deposit and is subject to all the restrictions listed below. Usually the money is deposited with the landlord when signing the lease and is deposited in an interest bearing account and returned after the tenant moves out.
Ohio law provides the tenant strong protection against landlord abuse of the security deposit. The laws and penalties apply to deposits given under both oral and written leases. The tenant should insist upon these rights and take follow-up action if the landlord delays or improperly withholds the security deposit. The tenant cannot defeat the purpose of the security deposit by using it for the last month’s rent. You can be charged a late fee.
Maximum Amount of Deposit
According to Ohio law, the tenant officially defines this “security deposit” under a rental agreement." A landlord is permitted to request a security deposit of any size, but in general they are equal to one month's rent. If your landlord asks for more than a single month's rent and keeps your deposit for more than six months, the landlord must pay you interest on the amount that exceeds one month's rent.
Receipt To Tenant
The tenant must receive a receipt for the security deposit, although this may consist of a clause written into the lease. The receipt (or statement in the lease) must inform the tenant of his/her right to receive from the landlord a list of all existing damages (described below). The tenant should ask for this receipt and look for such a clause in the lease (although a request is not required).
Ohio law provides the tenant strong protection against landlord abuse of the security deposit. The laws and penalties apply to deposits given under both oral and written leases. The tenant should insist upon these rights and take follow-up action if the landlord delays or improperly withholds the security deposit. The tenant cannot defeat the purpose of the security deposit by using it for the last month’s rent. You can be charged a late fee.
Maximum Amount of Deposit
According to Ohio law, the tenant officially defines this “security deposit” under a rental agreement." A landlord is permitted to request a security deposit of any size, but in general they are equal to one month's rent. If your landlord asks for more than a single month's rent and keeps your deposit for more than six months, the landlord must pay you interest on the amount that exceeds one month's rent.
Receipt To Tenant
The tenant must receive a receipt for the security deposit, although this may consist of a clause written into the lease. The receipt (or statement in the lease) must inform the tenant of his/her right to receive from the landlord a list of all existing damages (described below). The tenant should ask for this receipt and look for such a clause in the lease (although a request is not required).
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