Before moving into your home, you paid your landlord a security deposit equal to one month’s rent. Will you get any of these funds back now that your lease is ending? Can you just assume your landlord will apply this to your final month’s rent?
In short, if you have taken good care of your apartment, you should receive most, likely all, of your security deposit. However, the funds are meant to reimburse the landlord should there be damage to your apartment. Failure to pay your final rent could result in late fees and interest charges, just as in any other month.
The security deposit belongs to you unless your landlord has a valid reason to use the funds. For this reason, your landlord must hold the funds in escrow, which is a separate, interest-bearing bank account. Massachusetts law also requires the landlord to notify you in writing within 30 days of depositing your funds, the account number and the name and location of the bank where the money is being held.
Although you have no right to access these funds during your tenancy, you do have a right to earn interests on the security deposit if your lease is for one year or longer. You are entitled to the interest actually paid by the bank or, if your landlord improperly did not deposit your money in an interest-bearing account, at least an annual rate of five percent.
First, your landlord is not permitted to use your security deposit to pay for ordinary wear and tear, routine maintenance or to repair preexisting damages. For example, you are not responsible for basic painting, carpet cleaning or minor housekeeping to prepare your unit for the next tenant. You would be responsible for the costs of spackling large gashes in the wall or shampooing areas of the rug stained by your dog’s accidents. Likewise, your landlord can’t use the funds to replace carpeting that was heavily stained and threadbare before you moved in.
Your landlord can use the security deposit to pay for:
Under Massachusetts law, your landlord must provide you with an itemized list of damages and the estimated or actual costs of repairs. Furthermore, you are entitled to the written estimates, bills and receipts related to all such repairs. The landlord must swear to the truthfulness and accuracy of the information under penalty of perjury, which protects you from fabricated charges. Expect to receive this written itemized list at least 30 days before the balance of your security deposit is due to you. Failure to follow these rules may result in your landlord’s waiver of the right to use any of your security deposit.
If you refute your landlord’s claims, you should take action right away. A Boston security deposit lawyer can explain your tenant’s rights and recover funds that are rightfully yours. Call us at (617) 848-4572 to learn more.
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