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47. Which of the following concerning the security deposit is true?
The building is located in a jurisdiction that follows the majority approach to landlord-tenant laws.
A teacher is moving into a new apartment building. The building has five floors with three apartments on each floor. The building also has common areas shared between the residents, including a laundry room and a rooftop deck. The teacher is moving into one of the apartments on the fifth floor and is bringing her new golden retriever puppy with her. The landlord is charging the teacher three months' rent as a security deposit, even though the other tenants in the building without dogs had to pay only one month's rent as a security deposit. The security deposit is to be placed in an escrow account with the earned interest on the account belonging to the landlord.
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A is incorrect. Landlords are permitted to collect an extra amount of security from tenants with any pets. Pets generally create more wear and tear on an apartment, with a greater risk for permanent damage.
B is incorrect. The maximum amount of a security deposit is usually set by a state statute and generally ranges from one to two months' rent.
C is incorrect. Landlords are usually required to keep security deposits in escrow accounts. This is the proper procedure.