Are security deposits refundable when a tenant moves out?

When it comes to security deposits in North Carolina, there are specific rules that must be followed. Generally, the landlord is required to return the security deposit to the tenant when they move out. However, they must do so within a certain timeframe, usually 30 days of the tenant vacating the premises. The landlord may withhold all or a portion of the security deposit for unpaid rent, damages that exceed normal wear and tear, and cleaning costs. The landlord is required to provide the tenant with an itemized statement of deductions for any money that is not returned. The tenant then has the right to dispute any deductions the landlord has made. If the tenant and landlord do not come to a mutual agreement, the tenant may take the dispute to court. However, the landlord is still required to return the undisputed balance of the security deposit within the timeframe defined by law. In addition, the landlord must also give the tenant a written notice of their forwarding address at the time the security deposit is returned. This is used to help ensure that any dispute between the tenant and landlord can be resolved in a timely manner. In conclusion, security deposits are refundable when a tenant moves out in North Carolina. The landlord is required to return the deposit within a certain timeframe and may withhold any money spent for unpaid rent, damage that exceeds normal wear and tear, and cleaning costs. The tenant is also provided the right to dispute the deductions made by the landlord.

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Are security deposits refundable when a tenant moves out?

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