When does landlord return the security deposit?
The landlord has to return the deposit immediately after the tenant vacates the premises and hands over the keys to the landlord. Immediately could mean 1 day or 2 days
Some landlords wait for the next tenant to come in, collect deposit from them and then pay back to the first tenant who left the property. This causes delay and is a very wrong practice. The landlord should
understand that the tenant also has to pay deposit to their next landlord. I have seen this happening many a times and it makes me sad when the tenants do not have any power to correct his malpractice.
As per law- It is as per terms and condition of the agreement, but all practical purpose one should ask for security deposit at the time of handing over possession of the property. If one doesn’t do that than
getting back of deposit becomes difficult task at times. Some owner doesn’t return deposit at all specially if owner or tenants are from different cities.
There are lots of owner who keep some part of deposit in pretext of future liabilities like phone or electricity bill etc. I wold suggest you to clear all these dues in advance. I would suggest you to not to handover possession of property till you get your
deposit back. I will that extant that you ask for Pay Order ( Bankers Cheque ) if you have little doubt because crooked owner’s cheque might not get cleared by his bank.