Getting your deposit back is an important step when you end your leasing contract. The security deposit is basically your money and you don’t expect it to be lost or wasted when you move out of the apartment.
HOW TO PROTECT YOUR SECURITY DEPOSIT?
The landlord is obligated to return the deposit at the end of the leasing and the tenant decides not to extend it further.
There are some risks that might happen with your deposit:
- The owner does not refund your deposit.
- The owner deducts your deposit too much due to damage.
- The owner keeps your deposit for a long period of time after the end of the contract date.
Here are 11 tips from JHouse for you to protect your security deposit money. Do not skip any advice, as it is an important part of this process. Let’s just get started.
1. Make clear your tenancy plan
The first thing you need to do when renting is to have a clear plan. The rental plan will tell you what area you want to rent, how many bedrooms, budget, contract period, work schedule, etc.
A rental plan will help you make the right decisions. The right decisions will help you maintain a good tenancy. And the deposit will return to you at the end of the contract.
2. Clarifying deposit terms in the contract
Set a separate clause for the security deposit in your contract. It is helpful both for you and the landlord to know the responsibilities of each party.
Please clarify the amount to be deposited, deposit payment time, deposit receipt, fees arising from the deposit, deposit return policy, etc. The more detail of clause the more you can minimize risk of losing the deposit at the end of the contract.
3. Ask the owner to provide you with a deposit receipt
The contract will clearly describe the payment of the tenant’s security deposit. However, you will need to ask the property owner or housing agent for a deposit slip.
Simplify receiving your deposit back by providing a deposit receipt that was issued by the landlord when you pay at the time you sign the contract.
Any of us might sometimes be forgetfulness so please provide evidence for proving and the best way is to ask the owner for a deposit receipt right when you pay for it in the beginning.
4. Notify the owner of the contract termination as prescribed
The contract will specify how long you need to notify the owner that you will be terminating the tenancy. Make sure you do it rightly and on time for the owner as a helpful and polite endorsement to your landlord.
Making a notice in advance will show the owner your compliance with the contract and know what work they need to do when you move out, including the obligation to return your deposit.
5. Check property list and note damage when moving in
This is an important step of your check-in process. Ask the owner or housing agent for a list of the properties inside the apartment. Check details one by one and especially note the damage.
Completing a pre-move-in property portfolio check is like probate for you when you move out. It ensures protection and clearly shows you what your responsibilities are and what you need to do with them.
6. Report damage on time to the owner
There will be property damage during use and you need to promptly report such damage to the owner. There are damages you need to pay for them and there are damages the owner will repair free of charge. Therefore, report the damage to the owner immediately when you discover it.
The announcement will help the owners to update and know more about their apartments. The owner will not be unforeseen so much when you end the contract and move out.
7. Check the property list before moving out
Use the property list before moving in to check on the current conditions. Mark all damage or wear to the property because some of them will be the responsibility of the owner.
When you have the repair list which belongs to your responsibility, you can fix them base on it. It will keep your deposit from being deducted.
8. Repair of the apartment
Small repairs like changing light bulbs, filling nail holes, repainting walls and unclogging drains are the little things that make a big difference.
It doesn’t take too long for this little fix. On the other hand, you will help return the apartment to the same condition as it was when you moved in. Furthermore, the owner will definitely appreciate your action and will be less likely to have your deposit deducted.
9. Clean the apartment
It would be great if the owner found his property to be kept clean. It shows you appreciate and love the apartment.
You can do cleaning yourself or get help from a housekeeper or from an outside cleaning service. Of course, you need to pay for that.
10. Fulfill your payment obligations
Make sure your obligation to pay your bills is fulfilled. Such as rent, electricity, water, internet, management fees, parking, repairs, etc. The completion of payments will help you preserve your deposit.
11. Contact your housing agent
If you rent through a housing agent, contact them when you end your lease. They will help you work with property owners, negotiate and complete the move-out process. Housing agents are experts in this regard. Let them help you the same way they helped you find this wonderful home.
Congratulations on going through 11 helpful tips to protect your deposit. There are too details but don’t worry because you can do it and you’ll get help from your landlord or agent.
Be a great, patient and polite tenant. If you have difficulty getting your deposit back, just contact the awesome housing assistants of JHouse, they will give you helpful tips and solutions to get your deposit back to you.
JHouse Content Team
The in-depth content development team on housing services for foreigners & Vietnamese in Vietnam. The content is simple, easy to understand, logically arranged to bring readers useful topics and information from real experiences. JHouse welcomes sharing & copying from you – Attach source & quote from JHouse, please!