Landlord in Maryland?…You really need a post tenancy inspection!

A security deposit is any money paid by a tenant to a landlord that protects the landlord against damage to the rented property, failure to pay rent, or expenses incurred due to a breach of the lease.  This escrowed money, which can be as high as two months of rent, often becomes a point of contention between landlords and tenants.  Assuming the terms of the lease have been followed and there is no damage beyond normal wear and tear, the landlord must return a tenant’s escrowed security deposit, plus accrued interest, within 45 days following tenancy.  If the landlord fails to do this without a properly documented good reason, they may be held liable for up to three times the withheld amount plus interest, court costs, and other legal fees. 

Read more: Landlord in Maryland?…You really need a post tenancy inspection!

Quick Quote

captcha