I am living on rent for the last five years in the same house.At the time taking house on rent(five years before)i gave five month rent as security deposit(advance) which landlord have to return whenever i leave the house.Now landlord want to double the amount of security deposit after five years.He want to take the same amount that he has taken before to double the amount as security deposit.This amount can not be detected in rent but will be return whenever i will leave the house.Anybody can tell me the rule of increase in security deposit(advance) when tenant has spent sometime in the house and want to stay more in the same house.I will be grateful
Irfan replied on Friday, June 10, 2011 04:50 PM
Zahid sahib , you forgot to mention the rate of rent at the time of occupying the house five years before and the present rate of rent which you are paying to the landlord. Though there is no hard and fast rule on the security deposits but generally it is equal to two months rent. It also depends on the other conditions spelled out in the rental agreement. For example mode of payment of rent etc.
The purpose of security advance is to make good the damages made (if any) by the tenant, the outstanding amount of rent (if any) and the most important thing is to pay the utilities bills upto the date of vacation as the uitilities bill for the said period will be received after a month from the date of vacation.
So whatever amount is deposited as security must suffice for the said purpose. |
