Asked by Morgan Freeman on May 10, 2024
Verified
A security deposit is used by a landlord to provide protection for the tenants.
Security Deposit
The money given to the landlord from the tenant as protection in the event that the tenant causes damage to the rented property; refunded when the tenant moves out if there is no damage, and can range from 1 to 4 month’s rent.
Landlord
The owner of property (such as land, houses, or apartments) that is leased or rented to others.
Protection
Measures or strategies implemented to safeguard against financial loss, damage, or other adverse effects.
- Gain an understanding of the basics associated with leasing, renting, and possessing a home, including the comprehension of lease contracts.
Verified Answer
SK
Shannon KleinMay 16, 2024
Final Answer :
False
Explanation :
A security deposit is used by a landlord to provide protection against damages to the property or unpaid rent by the tenant.
Learning Objectives
- Gain an understanding of the basics associated with leasing, renting, and possessing a home, including the comprehension of lease contracts.