real estate


Question by  itsacanofcorn (34)

Will a security deposit increase as your rent increases on a commercial lease?

My commercial lease is going up by $200.00 a month in two weeks, I am concerned that they will also increase my security deposit.


Answer by  tamarawilhite (17883)

Your security deposit cannot be increased unless you sign a new lease agreement that includes the higher deposit as a condition of renting the space. They cannot simply demand more money out of the blue.


Answer by  Duncan (1124)

That is something that can be negotiated. The amount of rent paid usually presents a cap on the amount that a landlord can request for a security deposit, but that does not mean that the landlord has to request the maximum.


Answer by  nekturk (139)

A security deposit is generally required at the inception of a new lease in the amount of one month's rent. The terms of the lease will determine whether or not your security deposit will increase when the rent does, but with an existing rental agreement or lease, a landlord often will not require an additional deposit when the rent increases.


Answer by  bigwig (654)

It depends. They may have the right to, if the property has a higher value, but if cleaning costs stay the same, there may be no reason to.

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