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mitabtrfly
Member since 12/06 2770 total posts
Name:
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Question re: security deposits - when there is no lease
When you move into a private house, is the landlord supposed to put your security into an account where it gains interest and give you the info? Or..do they just give you the $$ back if they don't take out anything for damages etc?
Message edited 12/11/2007 12:26:20 PM.
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Posted 12/11/07 12:18 PM  |
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Prudential Douglas Elliman Real Estate
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nylisa
My Children
Member since 5/05 7905 total posts
Name:
MaMa
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Re: Question re: security deposits
In our last apartment the landlord just gave us back the same amount we gave her when we moved in as a deposit.
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| Posted 12/11/07 12:19 PM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: Question re: security deposits
They're supposed to, but most of them don't.
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| Posted 12/11/07 12:23 PM |
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MrsPJB2007
MBA at your service!
Member since 7/06 12020 total posts
Name:
MJ
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Re: Question re: security deposits
it depends on what is spelled out in the lease you signed. once i had a lease where it spelled out the deposit was being placed in an account at a particular bank....while others just says that i'll get back what i gave minus any deductions for damages.
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| Posted 12/11/07 12:23 PM |
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Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
Name:
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Re: Question re: security deposits
I think it depends on your lease.
I just got my one month deposit from my last apartment - I had no lease.
My mother received interest with her security deposit when she moved a while back - her lease indicated that the deposit would be kept in an interest bearing account.
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| Posted 12/11/07 12:24 PM |
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mitabtrfly
Member since 12/06 2770 total posts
Name:
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Re: Question re: security deposits - when there is no lease
I edited the title..we don't have a lease.
Message edited 12/11/2007 12:26:47 PM.
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| Posted 12/11/07 12:26 PM |
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Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
Name:
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Re: Question re: security deposits - when there is no lease
With no lease, I wouldn't expect interest on the security deposit.
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| Posted 12/11/07 12:29 PM |
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Wendy
Wheeee!
Member since 5/05 13736 total posts
Name:
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Re: Question re: security deposits - when there is no lease
Posted by Christine
With no lease, I wouldn't expect interest on the security deposit.
I wouldn't even expect my deposit back since there's nothing in writing stating what it will or won't cover.
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| Posted 12/11/07 12:31 PM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: Question re: security deposits - when there is no lease
Posted by mitabtrfly
I edited the title..we don't have a lease.
NOT WISE, You should always rent with a lease. You see this on court tv, renting without a lease is dangerous. Its your word against theres. See if you can revise to at least get something in writing.
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| Posted 12/11/07 12:33 PM |
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tourist
Member since 5/05 10425 total posts
Name:
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Re: Question re: security deposits - when there is no lease
When I lived in an apartment in a house & didn't have a lease, the just put the money towards the last month's rent.
And we had no lease & paid everythign in cash, so they didn't really even have to do that.
When I rented in apt. buildings, with a management company, they've always been in an account w/ interest.
And you don't just get the interest when you move out, you would be getting a statment at the end of every year if the money is in an account.
Message edited 12/11/2007 12:36:40 PM.
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| Posted 12/11/07 12:35 PM |
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mitabtrfly
Member since 12/06 2770 total posts
Name:
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Re: Question re: security deposits - when there is no lease
Posted by kerrycec03
Posted by mitabtrfly
I edited the title..we don't have a lease.
NOT WISE, You should always rent with a lease. You see this on court tv, renting without a lease is dangerous. Its your word against theres. See if you can revise to at least get something in writing.
Honestly it's better that we DON"T have lease. I don't know if you have read all of my postings about this apartment..but it's been hell and I would be PIZZED if we were locked into a lease. We are buying a house so we really don't care either way..
A lot of apts in houses that we've seen in the Bronx are w/out a lease..it's a month to month thing and we don't mind at all. I've never had a problem not having a lease and most landlords prefer that because they don't want to have a tenant locked in for a year or 2 who end up being horrible!
Message edited 12/11/2007 12:41:04 PM.
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| Posted 12/11/07 12:39 PM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: Question re: security deposits - when there is no lease
As a daughter of an attorney, while renting without a lease may sound better, its really not. And even if you signed a year, the landlord could still remove a tentant with a provision to lease.
Also, there are many month-to-month leases as well.
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| Posted 12/11/07 12:45 PM |
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mitabtrfly
Member since 12/06 2770 total posts
Name:
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Re: Question re: security deposits - when there is no lease
Posted by kerrycec03
As a daughter of an attorney, while renting without a lease may sound better, its really not. And even if you signed a year, the landlord could still remove a tentant with a provision to lease.
Also, there are many month-to-month leases as well.
I understand what you are saying..but it worked out for us and like I said we are buying a house so at this point it doesn't really matter. Thanks! 
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| Posted 12/11/07 12:50 PM |
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ali120206
2 Boys
Member since 7/06 17792 total posts
Name:
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Re: Question re: security deposits - when there is no lease
Legally, security deposits are supposed to be held in an account in your name. They earn minimal interest though (like a savings account).
I received statements each year and small interest checks during the period I rented - it was supposed to be once a year but, it wasn't that frequently.
If you didn't have a lease though, anything goes.
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| Posted 12/11/07 1:39 PM |
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eroxgirl
My Loves
Member since 5/05 15697 total posts
Name:
Rebecca
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Re: Question re: security deposits - when there is no lease
As someone who has always rented w/o a lease, I say don't expect any interest back. In fact from what you've posted, I wouldn't expect your security to come back to you easily so you might want to just use it as the last month's rent.
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| Posted 12/11/07 1:42 PM |
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nrthshgrl
It goes fast. Pay attention.
Member since 7/05 57538 total posts
Name:
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Re: Question re: security deposits - when there is no lease
Posted by ali120206
Legally, security deposits are supposed to be held in an account in your name. They earn minimal interest though (like a savings account).
I received statements each year and small interest checks during the period I rented - it was supposed to be once a year but, it wasn't that frequently.
If you didn't have a lease though, anything goes.
ITA
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| Posted 12/11/07 1:53 PM |
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NewlyMrs
Laugh-Live-Love LIFE!
Member since 10/06 14432 total posts
Name:
Jennifer
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Re: Question re: security deposits - when there is no lease
our last landlord did, however we have been moved out for a 1month and STILL waiting for the deposit! We did a walk through before we left too and everything was 100% fine! WE HAD A LEASE THOUGH!
My past landlords never gave me anything but the deposit back.
Message edited 12/11/2007 2:15:03 PM.
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| Posted 12/11/07 2:06 PM |
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Mrs-D-Girl
Love my fur baby
Member since 8/07 5183 total posts
Name:
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Re: Question re: security deposits - when there is no lease
I rented for 5 years and did not get interest on my money, nor did I really expect it to be honest with you.
I had no lease either and IMO it worked out 100% more in our favor that we did not. When we wanted to leave, we left and 9 out of 10 times, it's an illegal apt anyway and you have more rights then the Landlord does.
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| Posted 12/11/07 2:55 PM |
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LuckySV
LIF Adult
Member since 10/05 4675 total posts
Name:
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Re: Question re: security deposits - when there is no lease
The one time I rented an apt it was without a lease and I just used it towards last month's rent.
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| Posted 12/11/07 4:10 PM |
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bicosi
life is a carousel
Member since 7/07 14956 total posts
Name:
M
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Re: Question re: security deposits - when there is no lease
I have a question for you. How is your relationship with your landlord? If it's a good one and you've been a good tenant, then you shouldn't have a problem and you will get your deposit(no interest) back. Is the apartment in good shape? that will make a difference in the amount you get. Good luck!
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| Posted 12/11/07 4:44 PM |
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lorich
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Member since 6/05 9987 total posts
Name:
Grammie says "Lora Gina"
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Re: Question re: security deposits - when there is no lease
Any of the apts I had there were no leases. I rec'd all deposits/security back in full, w/no interest.
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| Posted 12/11/07 7:57 PM |
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Gertyrae
Peace out Homies!
Member since 5/05 20046 total posts
Name:
Gerty ®
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Re: Question re: security deposits - when there is no lease
My first apartment was a lease and the landlord bought a savings bond with my security deposit...since I was in the apartment eight years, I actually got double the money back when I moved.
But, that is the only time I have ever heard of that really happening.
My next two apartments, we just used the money for the last months rent since the apartments were in better shape when we left than when we moved in.
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| Posted 12/12/07 7:12 AM |
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kahlua716
3 Girls for Me!
Member since 8/07 12475 total posts
Name:
Keri
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Re: Question re: security deposits - when there is no lease
Posted by nylisa
In our last apartment the landlord just gave us back the same amount we gave her when we moved in as a deposit.
Same here 
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| Posted 12/12/07 3:08 PM |
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