Most tenants are required to provide a Security Deposit.
The Security Deposit (SD) is used to protect the Landlord’s
interest if the tenants damage the unit or defaults on
rental payments.
In PA , the “Landlord Tenant Act” governs all residential SD’s.
Here are a few of its provisions:
1. Maximum Amount of SD allowed - 2 Months
2.At the beginning of second year 1 month must be returned
3. From years 2-5 the SD can be increased to match the moly. Rent
4. The SD is not to be used as the last month’s rent
5.After tenants vacate and have left a forwarding address the Property
Manager must do one of the following three :
1. Refund the entire SD
2. Partial Refund and send itemized list showing subtractions
3. No Refund , itemized list as why , and submit bill for add’l damages
The LTA requires all of this to be done in 30 days . If the Property Mngr. fails
to communicate with the tenants by that 30 day period , the tenant can sue for
the return of their SD ( at the District Magistrate ) . If proven the the Property
Manager has not correctly communicated , the tenant is usually awarded DOUBLE
the amount of their Security Deposit !
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