Nebraska Security Deposit Law for Landlords and Tenants
Security deposits in Nebraska are designed to help protect landlords from unnecessary damage that a tenant may cause within a rental unit. Anything that goes beyond normal wear and tear within a rental unit can be covered by this deposit. There are some restrictions and limitations that the state laws have placed on what a security deposit can be and its return, so here is a look at the key points you'll want to know.
1. A Security Deposit Is Limited To a Maximum Of One Month's Rent.
Landlords do not need to charge a security deposit – some may carry tenant insurance and include the payment of this policy as part of the rent instead. When a deposit is charged, the maximum amount is equal to one month of rent. If a tenant is paying $450 for a studio apartment in Lincoln, then $450 is the maximum security deposit.
2. Pet Deposits Are a Separate Security Deposit.
If a landlord authorizes a pet, then an additional security deposit of up to 25% of one month's rent may also be charged. Using the example above, the pet deposit would be an additional $112.50.
3. Receipts Are Not Required For Security Deposits.
Many landlords simply add an addendum regarding the security deposit amount to the lease itself. This eliminates any questions or litigation which may occur from a paid deposit that remained undocumented.
4. Security Deposit Funds Do Not Need To Be Kept Separate.
Landlords can deposit all security deposit funds into one bank account. They are not liable for accrued interest, but are liable to return the full amount of the deposit, less any damages beyond normal wear and tear, after a tenant moves out of the property.
5. Tenants Must Request The Return Of a Security Deposit In Writing.
A security deposit must be returned within 14 days of a tenant requested the full amount in writing. Any cleaning or repairs that were necessary must be itemized if deducted from the full amount. A failure to itemize expenses allows for a tenant to sue for the full amount back plus legal feels.
If you have any questions about the Nebraska security deposit law for landlords and tenants, then seek professional legal assistance or research the laws independently to make sure you receive the answers you need.
When it comes to having a tenant for the first time, it can be pretty daunting because you are going to be the corresponding landlord and a new relationship will emerge, which will need time to grow... More
Many times, there are issues between a landlord and a tenant that need to be resolved but are failed to do so, because both parties have gone too far with their actions, and have retaliated in the... More
The landlord and tenant laws in California are literally the same as they are in any other state. These laws, rules and regulations are put into practice because they uphold an order, a discipline,... More
People are aware that there are different rulings in each state with reference to the landlord/tenant laws. The state of Illinois also has a set of laws. These rules and regulations are basically... More
Where there is a landlord, there will also be a tenant, and it is no surprise that these two parties can only work together once there is some sort of agreement, contract or a binding deal in place.... More
Many landlords find it difficult to write and draft a lease agreement. Since every State has its own general template, it can also be difficult to make sure your lease agreement meets all the criteria... More
All landlords know that before they can formally become a landlord there are a lot of things they need to understand. Landlords and tenants cannot act as such without any legal bodies involved. That... More
When it comes to being a landlord, one should know that it is not for the unprepared individual. This should be clear that being a landlord does not simply mean that you will be taking the rent and... More
Becoming a landlord is a major deal and no one can simply get up and think, “well, yes I think I should be a landlord and rent out my flat.” If you are thinking that you would like to be a landlord,... More
If you’re a landlord and want to manage your business in a better way, you should endeavor to get in touch with those industry experts who have the experience and the skills to help you do it. This is... More