Money paid in advance to cover the cost of excess damage you might cause while renting is called a(n):

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johnmo2003 johnmo2003

07-03-2022
Business

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Money paid in advance to cover the cost of excess damage you might cause while renting is called a(n):

Sagot :

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Tundexi Tundexi · Answer 1 · 2022-03-21T05:22:45-04:00

A security deposit is a an advance money paid to cover the cost of excess damage one might cause while renting.

What is a security deposit?

A security deposit refers to the money paid to a landlord or property owner to ensure that a rented property will be kept in good condition.

In conclusion, the security deposit is collected to put the rent-owner at advantage in case the leased property get damaged.

Sagot :

What is a security deposit?

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