questions & answers

Question: I have been living in my apartment for 9 years. The first year, I signed a one year lease and paidnfirat and last months rent and a security deposit of $200. What are my rights when it comes to my security deposit, being a technically month to month renter? Also our landlord is selling the complex... what are my rights in that regard to the security deposit as well? Also, there are rumors it will be sold to an investor that may just tear the complex down... what would my right be in that regard to the security deposits? Is there anything I should know in general about my rights in this situati

Answer: As a general rule, whenever a tenant and a landlord enter into a rental agreement, that agreement binds not only the original landlord but also any future new landlord, until such time as either party ends the agreement. A refundable security deposit should be returned to the tenant whenever the tenant moves out and within 14 business days after the tenant requests its return in writing (A.R.S. 33-1321(D)). It is often suggested that a tenant whose rented dwelling gets a new landlord contact that landlord in writing immediately to inform them of the existing rental agreement and any existing security deposit obligation.