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TOPIC: Rules on Security Deposit

Rules on Security Deposit 3 years 7 months ago #16605

  • Donald
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Hello everyone.

I have a 6 months rent contract in a condo here in Mandaluyong which will end after February of 2016.
I paid 1 month advance and 1 month deposit.

The landlord sent a notice that I should look for another condo since they will sell the unit.

I have found one this week and I plan to move out after January.

I told the landlord that the advance will be used this January. He agreed.
The security deposit however can't be refunded since that will now act as an advance payment for February.

When I looked at the contract, I didn't see any part of it that mentions that rule.
So I argued and told him that security deposit isn't treated as advanchttp://imgur.com/a/i1CFne as the contract suggests.

Here's the statement on the contract about the security deposit.

"6. Security Deposit: Upon the execution of this Agreement, TENANT shall deposit with LANDLORD the sum of 7500. Receipt of which is hereby acknowledged by the LANDLORD, as security for any damage caused to the Property. The LANDLORD may charge a higher amount to the TENANT depending on the damage cause to the Property."

Is there any chance that I can get the deposit back?

Thank you.

Here's our text convo

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Rules on Security Deposit 1 year 1 month ago #17916

  • Atty. Libayan
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Deposits are not advanced payments. Deposits are made as security for damages at the end of the lease contract. Damages that usually consists of repairs, etc.
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Please note that answering your queries in the free legal advice forum does not create an Attorney-Client relationship.
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