By Juliana Torres-Mason
Renters transitioning to a new home have a lot on their minds when it comes to closing accounts, changing their addresses and paying new bills. As the costs of the move pile up, they may be tempted to skip paying the last month of rent. After all, can’t the security deposit cover what is owed?
The short answer is a resounding “no,” said real estate attorney Evan Rosenberg with the Florida firm Ritter Chasid.
While renters may have paid the cost of a full month’s rent as a security deposit, the purpose of those funds is to cover any damages the renters left behind. The security deposit was rarely if ever intended to be applied to the last rental payment.(more…)