Q: Can a landlord ask for a NONREFUNDABLE security deposit prior to signing a lease agreement?
Can a landlord tell you they will be keeping your security deposit when/before you sign a lease agreement?
Before signing a one-year lease for a condo, the landlord says we must pay a security deposit equal to a full month's rent, but that this security deposit will be non-refundable.
If it's non-refundable, then how is it a security deposit in the first place?
A:
No. Under the Tennessee Uniform Residential Landlord Tenant Act, the security deposit is refundable.
Landlords cannot deposit security deposits in the same accounts that contain any of the landlord’s personal assets.
The landlord must return either part or all of the security deposit to the tenant 30 days after termination of the lease.
The landlord is required to return the tenant’s security deposit at the end of the lease term. However, the landlord may withhold the tenant’s security deposit for any of the following reasons:
Damages beyond ordinary wear and tear
Unpaid rent
Other breaches of the lease
If the landlord withholds the deposit for any of these reasons, he or she must send the former tenant a statement to the last known address of the former tenant. The statement should include an itemized list of damages and the amount of deposit owed to the tenant.
If the tenant does not respond to this request within 60 days, the landlord can remove the deposit from the account and subsequently, the tenant will no longer have any right to it.
If the landlord withholds part or all of the security deposit due to damage to the rental unit, the damage to the premises must be beyond normal wear and tear. As a result, the landlord must complete a walk-through inspection to look for any damage to the property and compile a written list of any damages. Both the landlord and tenant have the right to be present at this inspection.
See https://www.tennfairhousing.org/sites/tennfairhousing.org/files/2014URLTA.pdf
Good luck!
Anthony M. Avery agrees with this answer
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