Legal Question in Real Estate Law in California
Lease Deposit
Typically, in a lease agreement, what is the Deposit for? Is it intended to cover the last month's rent if the tenants move out early? Should the tenant treat it as such?
1 Answer from Attorneys
Re: Lease Deposit
The deposit probably isn't meant to be a prepayment of, nor applicable toward, the last month's rent, which is supposed to be paid on the due date, just like every other month's rent. It is meant to secure the landlord against damage to the premises going beyond normal wear and tear, but may be used by the landlord to compensate itself for any tenant obligation if necessary, ranging from unpaid rent through every kind of damage to theft of light bulbs and failure to return keys. Most leases are fairly specific in this regard, stating in black and white what I've said, but some are vague or silent, and a rare few may permit the tenant to apply the deposit to the last month's rent. This would be very rare because the last month and thereafter is exactly when the landlord is most likely to need some security.