Landlord Question and Answer Forum
What happens in North Carolina to the original higher security deposit if the rent drops. The tenant has been renewing for 3 years and on this 4th year the rent has decreased. Can the original higher security deposit attach to the 4th renewal lease?
D O, NC on Thursday, June 5, 2014
RE: Rent Decreases effects on Security Deposit
Yes it can stay the same, the security deposit does not have to be the same as the rent. There is no state regulation in North Carolina from what I know. Plus let them know that stays the same, they are now saving in rent and if they are good clean tenants they will be getting the higher security back at the end.
Posted by
Richard W, PA
on
Thursday, June 5, 2014
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