Property Management
Under Vermont's Landlord and Tenant Act, what is the maximum security deposit a landlord may collect from a residential tenant?
AOne month's rent
BTwo months' rent✓ Correct
CThree months' rent
DThere is no statutory maximum
Explanation
Vermont's Residential Rental Agreements Act (9 VSA Chapter 137) limits security deposits to no more than the equivalent of two months' rent, protecting tenants from excessive up-front costs.
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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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