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Lucy, Esq.
Lucy, Esq., Attorney
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What is the difference between a deposit and security deposit ,

Resolved Question:

What is the difference between a deposit and "security deposit", "cleaning deposit", "damage deposit"?
Submitted: 6 years ago.
Category: Business Law
Expert:  Lucy, Esq. replied 6 years ago.

My name is XXXXX XXXXX I'd be happy to answer your questions today.

A security deposit may be used for damages to the apartment or to pay unpaid rent when the tenant moves. No matter what it's called in the lease, if it's to pay for damages or unpaid rent, it's considered a security deposit. So, fundamentally, there's no difference between a "deposit," "security deposit" or "damage deposit."

Cleaning is not considered part of the security deposit. So, a cleaning deposit would only be to cover the costs of cleaning when the tenant moves. If the tenant cleans the apartment, it must be returned, even if there is unpaid rent or damage. A cleaning deposit may be non-refundable, if the lease specifically states that it is.

I hope that helps.
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