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What should be the security deposite, when renting an appartment?
01-May-2023 (In Landlord/Tenant Law)
what should be the security deposit of renting an apartment? is it one months rent or more than that?
Basically, the security deposit serves the basic purpose of being Caution Money in the hands of the owner to secure unpaid license fees if the tenant defaults in paying it on time. It is always advisable to have 3-6 months license fee as deposit to cover any eventualities and avoid litigation between owners and licensee.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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