Protecting Your Rental Property & Your Security Deposit

Monday 10 Sep 2018

Homeownership: For many, this is one of the big goals in life. However, buying a home takes time - it's an expensive endeavour! So, in the meantime, people stick to renting as they save to get on the property ladder.

One of the biggest benefits of renting, of course, is the cost. Financially, it's much easier to obtain a rental place than trying to buy a place on your own. It gives you the flexibility to be in a neighbourhood you might not be able to afford if you were looking to buy as well as allowing you to move easily in case you discover at the end of your lease that the space just isn't for you.

If you've caused no damage by move-out time, then you should get your full deposit back.

However, rentals don't come without their challenges. Most rental places will require a down payment, or a security deposit, in case you cause any damage to the place as you live there. This money gives the property owner the funds to repair any damage. But, if you've caused no damage by move-out time, then you should get your full deposit back.

Knowing this makes many renters want to be extra cautious around a place they don't intend to keep. But you don't want to have to tiptoe around your place until your lease is up! Instead, check out these easy to follow tips to help you keep both your rental and your security deposit protected.

Attention renters! If you want to keep your security deposit by the time you move out, you might want to check out these tips to help you keep you safe.

Use rugs to cover up floors

Scratches along floors will often upset landlords and could come out of your security deposit. However, anyone who has ever moved a lounge around, or just pushed a chair back a little too quickly knows that scratches happen! Fortunately, prevention is easy. Use area rugs to cover up as much space as possible. Additionally, putting rugs under heavy furniture will help prevent any scuffs as well.

Employ dehumidifiers

Mould can be a big issue for tenants, especially those who have bathrooms without a proper ventilation system. Using a dehumidifier will help suck the moisture out of the air, helping keep it off the walls where it could turn into mould or mildew.

Use nails to hang

You might expect landlords would prefer that you use tape or those 'easy-to-remove' hooks, but those often stick to the walls and can tear away a layer of paint or wallpaper. A tiny nail hole is much easier to cover up (if need be at all).

DISCLAIMER: The following advice is of a general nature only and intended as a broad guide. The advice should not be regarded as legal, financial or real estate advice. You should make your own inquiries and obtain independent professional advice tailored to your specific circumstances before making any legal, financial or real estate decisions.