Think Twice Before Collecting A Security Deposit
“First, last, and security deposit.” That is a common phrase heard by landlords and renters alike. However, to newer or inexperienced landlords, this can be detrimental to them. Collecting a security deposit from a tenant requires extensive knowledge of the Massachusetts laws and regulations concerning housing issues. The landlord is required to adhere to numerous strict security deposit laws. Security deposits must be in a separate account within a Massachusetts Bank with the account being titled specifically. Interest on this money has its own rules. Any violation of these laws can lead to triple the damages, fees, costs, and interest on the money.
Violations of the security deposit statute is a defense to summary process evictions used in most cases. This is because few landlords understand and comply with the security deposit statute. Attorney Andrew Bucklin counsels landlord clients against collecting a security deposit from a new tenant. Methods of protecting the landlord from rental unit property damage are available for consideration and offset any damages suffered.
What Qualifies as Damage?
Property damage to a rental unit has to extend beyond the general wear and tear that a property undergoes. General wear and tear looks like:
Worn out carpets
Faded curtains on windows
Scrapes and scuffs on the walls
Windows losing their insulation properties
Property damage that is beyond general wear and tear caused by tenants and their guests. Some examples are listed below:
Punched holes in the walls
Broken windows or mirrors
Flood or fire damage caused by a tenant
Notice a difference in the qualifications? These damages can be reduced or avoided through proper planning and business practices.
Contact Attorney Bucklin For Legal Assistance
A smart landlord wants to avoid the issue of extensive property damage. If the damage has occurred Attorney Andrew Bucklin can provide you with expert legal advice on navigating through this issue! Click here to fill out the online contact form and get in touch with him directly.