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Security Deposits

A reservation deposit is needed to reserve an apartment until the lease commences. When the resident moves in, the reservation deposit then serves as the security deposit. It accrues interest, per the state guidelines, until the resident moves out. The entire security deposit will be refunded with the applicable interest provided that there is no unpaid rent or fees, the apartment is cleaned using the guidelines in this handbook, keys are turned in and there is no damage. When vacating, a resident must return all keys issued to them for the apartment in order to receive their security deposit back, and must also supply management with their forwarding address and phone number.

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