What is a Deposit?
In case of damage to the real estate during the tenant’s residence, the security deposit paid before the rental to cover the costs is called the deposit. The amount of the deposit is determined by the monthly rental price. The owner of the property may request a deposit up to 3 months’ rent from the tenant.
The deposit, also known as the security deposit, is withdrawn when leaving the leased property. The property owner must repay the deposit within 3 months from the date of termination of the lease. If the property owner does not repay the deposit as specified in the lease agreement, the tenant may initiate enforcement proceedings against the property owner.
However, the deposit received as security deposit may not be refunded in some cases. If the property or the fixtures in it have been damaged, if the rent or apartment expenses have not been paid, the deposit can be used to cover them.
