The fact “Let the money out of your pocket is easy, but getting it back is quite the opposite”. The same is true of your security deposit. Getting your deposit back is a long process that requires you to follow the rules. At the end of the lease and moving out, you expect to get your full deposit back as soon as possible. But how do you make sure you get your security deposit back?
How to Get Your Security Deposit Back? 4 easy steps you need to know
Moving to a new place, you have many things to prepare and need money to buy furniture, deposit for a new house, etc. It all starts from the beginning. To save you from unnecessary stress, follow the simple tips below to get your deposit back fast.
But, first you need to know what is a security deposit meaning? and how many types of security deposits are there. Everything you need to know about your security deposit in Vietnam will help you with useful information.
We will now begin the process of getting your security deposit back at the end of the contract. Follow the steps of the process – simple, easy to do, and useful to you.
Step 1: Before you sign the lease agreement
A lease agreement is legally binding – it protects the interests of both the landlord and the tenant. A lease agreement is a thread of justice when problems arise between two parties. That is why you need to read and read all the terms contained in the contract. Make sure you understand your agreement. Write down any questions you have when reading the agreement and then discuss it with the landlord to clear things up.
Set aside a clause for the security deposit in your lease. Please clarify deposit amount, deposit payment time, deposit receipt, fees incurred from deposit, deposit return policy, deposit deduction, wear and tear, etc. The clearer things are, the less you risk losing your deposit at the end of the contract. To be on the safe side, you can ask your landlord to provide a security deposit agreement.
Review your agreement termination clause with requirements/ conditions that you need to follow in order to get your security deposit refunded.
Don’t forget to ask the owner to provide you with a security deposit receipt/invoices. Any of us will experience temporary amnesia/forgetfulness. So please provide proof of payment of your rent deposit.
Step 2: Before moving in
To start a happy and comfortable life in a new apartment, you need to do two checks before you move in. Not chores, don’t take them lightly. You’re better off keeping yourself safe and avoiding paying for what you don’t do.
Apartment inspection should take place before you sign the lease agreement. This can help avoid or minimize future disputes with the landlord about the condition of the apartment, as well as provide you with a safe and comfortable place to live. What do you need to check?
- Locks and doors/windows
- Security system
- Walls, ceilings and floors
- Lighting system
- Electrical appliances
- Signs of mold and insects
- Bedroom, living room, kitchen, toilet, laundry area
This list will help you and the owners know exactly what equipment and furniture are included in the apartment and what condition they are in. Prevent risks and disputes from property damage or loss before you move in. And it is very useful to know what equipment and furniture the apartment lacks. From there can negotiate with the owner to provide more. What does the list include?
- Living room
- Laundry area
- Damages & replacements
Take a photo or short video of any problems and put them on a completed checklist. It is better to have a short discussion with the landlord to agree and implement the next necessary solutions.
Step 3: During the rental period
You are now completely inside your real home. Now it’s time to step into the next step of the security deposit recovery process. What do you need to do during your stay at the apartment to get your deposit back after the contract ends? The answer is right below for you.
Be a good and friendly tenant
A good tenant will help you have good communication in the building community, receive privileges and favors from the landlord. With a good tenant – the landlord will return the deposit quickly and comfortably. No landlord would make it difficult for a nice and friendly tenant.
To be a good tenant, you need to keep the apartment clean, pay your bills in full, repair damage in a timely manner, not get complaints from neighbors, keep your pets safe in the apartment, obey, comply with building regulations…
Fulfill payment obligations – Don’t owe anything
Make sure you finish paying your bills. Such as rent, electricity, water, WIFI, management fees, parking, repairs, etc. Completing the payments is a quick way to get your security deposit back from the landlord.
Keep the apartment in good condition and promptly notify the owner of any damage
Keep the apartment clean and do not damage the furniture and equipment inside the apartment. If there is any damage, you need to immediately notify the landlord so that repair or replacement measures can be taken. Any renovation, repair in the apartment, … you need to notify the landlord and get their approval.
Step 4: Before moving out
This is a sprint time, the deposit should be returned to you as soon as possible. You need them to pay for the new apartment. Use caution at this step in the process to get your deposit back. Take steps in accordance with the provisions of your tenancy agreement. What do you need to do at this step?
Notice of Termination of Tenancy – no renewal of lease
Check your rental agreement. Find termination and renewal terms of the lease. You will find the number of days it takes to notify the landlord of the termination or renewal of the lease. In Vietnam, it is usually 30 days before the contract end date.
You need to send the “Notice of Termination of Tenancy” directly or by email to the landlord. Check with your host to make sure they’ve received your notice. This notice helps the landlord understand what they need to do when you move out, and returning your deposit is what they need to do.
Make an apartment checklist when moving
An integral part of before you move out of the apartment is to make an apartment checklist before you move out. This list will help you with what you need to do: clean the apartment, perform damage repairs, sort the furniture, complete the payment, etc. Completing the repairs and keeping the apartment clean is the safety way to get the security deposit back from the landlord.
Clean your apartment
You can clean the apartment yourself or you can hire a cleaning service if you have a lot of money. Whatever it is, you need to clean the apartment inside and out – top to bottom. As a general cleaning for your home. The landlord will be very pleased and comfortable to return your security deposit to you when the apartment is clean and tidy.
Make the necessary repairs
Damage is normal. You need to repair or replace damaged equipment or furniture. However, be aware of natural wear and tear. There are appliances and interiors that will deteriorate over time – I mean natural wear and tear and you don’t need to repair or replace them. Consider normally impoverishment in your house.
Complete payment of expenses and bills
Don’t confuse last month’s rent and security deposit. You need to pay the last month’s rent to the landlord. In addition, you need to pay for your bills such as: Electricity, water, internet, management fee, swimming pool fee, cable TV fee, parking fee, … and fees related to repair treatment in the apartment (if any). These are considered debts and you need to bring it back to zero.
Don’t miss out on JHouse’s 11 tips to protect your deposit back into your wallet – where it belongs.
JHouse has brought you the process to get your security deposit back from the landlord with 4 important steps corresponding to the 4 stages of the apartment rental journey. From reviewing your lease to moving in, during your stay until you move out. The steps and implementation are not complicated, you just need to do them fully. The landlord will be very happy and please to have a good and friendly tenant like you. Your landlord will return your security deposit promptly and respectfully!
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!