A rent deposit is a sum of money provided by the tenant to the landlord as collateral. Many tenants and landlords exchange rent deposits. The rent deposit is a concept that also appears with the New Tenants Law. The Tenants Law states that the money received under the name of rent deposit must be kept in a time deposit account and, upon the termination of the lease agreement, should be returned to the tenant with interest, provided there are no issues with the rented property. The rent deposit can be at most 3 months' rent.
In Which Cases is the Rent Deposit Not Refunded?The money received by the landlord under the name of rent deposit is returned to the tenant upon the termination of the lease agreement. However, in some cases, the entire rent deposit or a part of it may not be refunded. For example, if the fixtures in the house are damaged, electronic items such as the combi boiler or built-in appliances are broken, the parquet floors are damaged, or if no painting or renovation is done, the rent deposit is not refunded based on the conditions specified in the lease agreement, or the remaining amount is refunded after deducting the renovation costs.
.webp)
