Can My Security Deposit
Pay the Last Month’s Rent?
Absolutely not. The lease document follows Maryland law and is very clear on this point. It says that “Tenant may not utilize the Security Deposit as rent and must not apply the same as the last month’s Rent.” All security deposits are held in escrow on behalf of the tenants to cover any damage or unpaid expenses of the property. The tenant’s obligations under the Lease may not end when the tenant ceases to occupy the Property. Repairs required may be so substantial or of such a nature that work will not be completed within the 45-day period following the termination of the tenancy. In such and event, Landlord reserves the right to pursue Tenant for reimbursement for costs incurred for damages.