What are the laws regarding security deposits?
In South Carolina, security deposits are subject to specific laws that protect both landlords and tenants. Under South Carolina law, a landlord must return the security deposit to the tenant, minus any amounts that are owed for unpaid rent and damages, within 30 days after the tenant has moved out of the rental unit. The landlord can only use the security deposit for specific reasons, such as unpaid rent, damages to the rental unit, or cleaning costs. Landlords must give tenants a written list of any damages, their estimated costs of repair, and the tenant’s right to inspect the rental unit before they move in and after they move out. Additionally, the landlord must keep the security deposit in a separate bank account and must not mix the security deposit money with their own money. On the other hand, tenants also have a responsibility to protect their security deposits. Tenants must provide the landlord with a written list of any damages that existed prior to move-in, notify the landlord of any damages during their tenancy in order to prevent further damage, and return the rental unit in the same condition as when they moved in, with normal wear and tear excluded. Ultimately, the security deposit laws in South Carolina help to protect both landlords and tenants. By adhering to these laws, landlords are able to ensure that they are compensated for any damages or unpaid rent, while tenants can be sure that their security deposits are being returned to them in a timely and fair manner.
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