I live in New York City, I wanted to know if there is any law against using your security deposit to pay off rent arrears. I was out of a job for two month and fell behind in my rent, however I have a security deposit with landlord can I use this security to pay off some of the arrears
2007-06-28 08:06:03 · 6 answers · asked by Sexy PuertoRican Lady 2 in Business & Finance ➔ Renting & Real Estate
Depends on the state, but if you use the deposit on overdue rent, its subject to sales tax (here in florida). If your landlord doesnt already have some taxable activity, it may be a pain for him or her to pay the sales tax that would be due. It can be used, but your landlord will owe tax to the state- your state could could be different though.
2007-06-28 08:20:14 · answer #1 · answered by cashmaker81 6 · 0⤊ 0⤋
Does waypoint homes allow security deposit to be used as arrears rent
2016-09-14 06:03:28 · answer #2 · answered by ginger 2 · 0⤊ 0⤋
Security deposits are used for when you move out. They cover the cost of any repairs and cleanup that is needed. Most likely your lease states that your security deposit is not used for rent.
2007-06-28 08:09:19 · answer #3 · answered by halestrm 6 · 0⤊ 0⤋
No, you can not. The deposit is for security on the property itself, to cover damage you may do to it. It is not associated with your rent at all. Your landlord may use the money that way, but you can not legally force them to do so.
2007-06-28 08:24:11 · answer #4 · answered by Landlord 7 · 2⤊ 0⤋
no way... when I signed my contract it was a disclosure saying that security deposit wont't cover that nor last month rent.
2007-06-28 08:32:19 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Ask your landlord, only the landlord can answer that question. Did you read your lease?
2007-06-28 08:13:33 · answer #6 · answered by newyorkgal71 7 · 0⤊ 0⤋