Deposit Terms & Conditions

Last updated: February 7, 2026

1. Security Deposits

Security deposits are funds held to secure performance of lease obligations.

• Holding: Deposits are held in a segregated, interest-bearing account where required by law.
• Purpose: Funds may be used to cover unpaid rent, damages beyond normal wear and tear, and cleaning fees.

2. Deposit Waivers / Alternatives

If you have opted into a Deposit Waiver program (e.g., "Zero Deposit"):

• You pay a non-refundable monthly fee or one-time fee instead of a traditional refundable deposit.
• This is not insurance for you. You remain liable for all damages and unpaid rent at move-out.
• The fee allows you to move in with lower upfront costs, but does not absolve you of financial responsibility for the unit condition.

3. Return Process

For traditional security deposits:

1. Inspection: A move-out inspection will be conducted after you return possession of the unit.
2. Statement: You will receive an Itemized Statement of Deductions within the statutory period (typically 21-45 days, depending on the state).
3. Refund: Any remaining balance will be mailed to your forwarding address or refunded electronically.

4. Dispute Resolution

If you disagree with deductions made from your deposit:

• You must submit a written dispute within 14 days of receiving the statement.
• Include photos, move-in checklists, or other evidence to support your claim.
• We will review the dispute and issue a response within 10 business days.

5. Forwarding Address

You are required to provide a valid forwarding address upon move-out. Failure to do so may delay your refund or result in unclaimed funds being turned over to the state as per unclaimed property laws.