Security Deposit questions

Ask the Hackrs
1

What is the purpose of the security deposit? How is it different from a down payment? How does multiple security deposit help to reduce the monthly lease payment? What could cause me to not get back the security deposit at the end of the lease term?

All answers are appreciated since I am new to the whole leasing thing and it seems to make a lot of sense to me now.

Thanks.

2

Hi @illuminati412,

No worries! You are not the only one who is unfamiliar with the security deposits. Take a look at this thread for answers to some of your questions:

Cheers!