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Benefits of Security Deposit

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Security money is the sum of money that a landlord takes from his tenants to the addition of the first month rent. When a landlord choose tenants for his rental properties then he collects the advance first month rent and security deposit that cannot be more than one month’s rent amount. But what do you think that why a landlord charge security deposit from his tenants when it is refundable? Well, it is true that security deposit is refundable but a landlord can keep a portion or the entire security deposit for the below-mentioned reasons: ·Damage to the property. ·Early termination of lease. ·Non- payment of rent. ·Cleaning cost.
So, if you are new in this business and you don’t know the importance of security deposits that why you must take it from your tenants. Here are some important benefits of security deposit: ·Tenants More Careful. ·Safeguard Against Damages. ·Safeguard Against Non-Payment.
Tenants Moe Careful When you take security deposits from tenants then they become more carefu…

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