security deposit

[si-kyoor-i-tee-di-pahz-it]

noun

1. a deposit or sum of money paid in advance to an owner when renting something, usually refundable and meant to cover the owner's costs in case of damages.

Example Sentences

They require a security deposit that is usually equal to the credit limit, but they are easier to obtain for people with no or poor credit.

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When entering a lease, you’re providing the landlord with the first month’s rent and a security deposit.

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"There are one-time costs such as the security deposit, application fees and potential broker fees. Moving expenses can be surprisingly high — even if you're moving only a short distance."

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You will no longer be required to pay rent and your landlord must return your security deposit.

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The truth is that less than 10% of pets cause damage, and when damage does occur, the average cost of repairs is $210, much less than the average security deposit.

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Related Words

• deposit