Property Management
A Utah landlord may keep all or part of a tenant's security deposit for:
ANormal wear and tear
BUnpaid rent and damage beyond normal wear and tear✓ Correct
CCosmetic improvements the landlord wants to make
DFuture rent increases
Explanation
Utah landlords may deduct from a security deposit for unpaid rent and damage beyond normal wear and tear. They may not deduct for ordinary deterioration from normal use.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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