by Francis Jock

Created on: July 17, 2008   Last Updated: May 02, 2012

Thinking about having your security deposit returned to you should a consideration even before you sign your lease or rental agreement. Why should you think about moving out even before you move in? The answer is simple. Your security deposit is your money and you want it returned when you move out. So, what should you know about having your security deposit returned to you? Here are some secrets that some landlords don't want you to know.

Landlords are allowed to require a security deposit in order to protect their financial interest in their property. The amount they are legally allowed to charge varies by state, so you should check with the local housing authorities or rental associations if you have any question about the amount. At the end of the term of the rental agreement landlords are required to return it to you, less any deductions for repairs and damages beyond normal wear and tear.

The landlord will deposit your money in an escrow account which may earn interest. This money remains your money for the duration of your lease. When you vacate the rental unit, the security deposit money is returned to you, providing that you have upheld your end of the lease agreement. In other words, you have paid your rent in full and you haven't trashed the place. Any interest earned on the money may or may not be returned to you, depending upon state law.

So how are you going to be sure that you will have your security deposit money returned in full? The first bit of advice is to ask questions before signing the lease or rental agreement. Ask the landlord exactly what his expectations are for you to be able to get your money back. He'll be glad to explain the process and will appreciate your interest in establishing a good relationship. Then be sure to do the following:

First, be present at the time of the move-in inspection. Be sure to have a camera and take lots pictures of the condition of the unit and all the appliances. Note anything that is broken, shows a lot of wear and tear, or is dirty. You should sign a copy of the move-in inspection report after it is completed. Be sure to ask about how soon any maintenance work arising from the inspection will be completed. Ask for a work order number and note it on the report when you receive it.

Tip: If your landlord doesn't have the repairs made within a reasonable amount of time, say thirty days, send him a polite note requesting confirmation of the work order and the expected completion date. This will alert that landlord

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