roll over security deposit?
We have a tenant who is renewing a one-year lease for a second year. Can we just roll his security deposit over to apply to the next year’s lease?
We have a tenant who is renewing a one-year lease for a second year. Can we just roll his security deposit over to apply to the next year’s lease?
I doubt starfish cares about getting the few dollars of rental increase in the security deposit. Rather, like many landlords with rent stablilized tenants, star is probably looking for reasons to kick out the rent stabilized tenant and therefore be able to raise the rent.
starfish1948 –
I have a RS tenant & the prior owner had never collected increases for the security deposit. When I offered the renewal lease and asked for the difference between the security and the new rent, he sent me a DHCR opinion letter on a similar case which said “owner has waived prior increases in the security deposit and would be limited to just the current guideline increase.”
Your case is a bit different if you asked for the increase and she ignored it, but it’s probably not worth going to court over a few dollars of security deposit.
I have a low-rent stabilized tenent who always refuses to adjust the security deposit to the increased rent at lease renewal time. She just ignores it.
Do I have legal recourse?
great, thank you!
You always roll over the deposit and you can increase it to meet the current rent.
As opposed to ?? Isn’t that what is always done?
The only difference I have seen is some make the tenant up the deposit to equal the new month’s rent, if higher, and some are happy enough to leave it at the original amount.