Can a landlord increase the deposit in a subsequent lease agreement?
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Can a landlord increase the deposit in a subsequent lease agreement?
I have been renting a home for nearly 12 months. I paid $1000 deposit ($500 regular, $500 pet) deposit. The landlord now wants an additional $600 deposit with the signing of a subsequent lease agreement. Is this in his legal rights to do so?
Asked on August 16, 2011 South Carolina
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Assuming you have a written lease for the home you are renting and it does not have an option for you to extend it, your landlord can ask that an increased security deposit be placed by you as consideration for extending the lease beyond its current term.
There is nothing improper about this request in that you can either accept the terms for an extra $600.00 deposit or not in exchange for a lease extension. It is all up to you.
When your current lease is over as to its terms, the agreements contained within it also end. This includes the $1,000 deposit originally agreed to by you and the landord. You could counter the $600.00 requested deposit with one of $300.00 or ask for some other thing from the landlord that you want to extend the lease. If you move out, there will be a vacancy period with time and expense for the landlord to get the unit ready for someone else.
Perhaps your landlord does not want to have an interruption in his cash flow on the rented unit?
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