Q: Resident for 8 years, my deposit was $999 my landlord is now requesting an additional $941 for security, is that legal?
I moved into my home 8 years ago, at that time my rent was $1495 and my security deposit was $999. My rent has been raised a few times over the years. My rent is currently $1775 and my landlord is raising it to $1940 (it will also included water and heat - new change) and also requesting that I pay an additional $941 towards my security deposit. Can they legally ask for that additional security deposit after I've been here for over 8 years?
A: Yes, when a lease is renewed, a landlord is entitled to ask for an increase in the security deposit being held. The landlord is permitted to hold a maximum of one month's rent for security.
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