If one of three tenants move out of a rented house how does the secuirty deposit work.
by 
laidback
ANSWERS: 2
-
This depends on a few factors. If the tenant that is moving out moves out before the lease is up they are not entitled to the security OR they will get theirs back when someone else moves in and pays. If the tenant is moving out legally, not breaking the lease, they will receive their deposit back after an inspection of the property, normally less than a month after the move in date.
-
If the person moving out has caused no damage to the property and is current with their rent and possible shared portion of all bills, I would say give them back what they paid towards their share of the deposit. Obviously, if the remaining roommates have caused damage or do so after the one has left...then the remaining ones will have to cover the repairs when the time comes to dissolve the remaining tenancy. If the one leaving is being replaced..then their portion of the deposit will also be replaced and if they are, again, good to go on all responsibilities... give them their deposit back!
RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC