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security deposit
noun
: an amount of money that a renter pays when beginning to rent property (such as an apartment) and that can be used to pay for any damage that the renter causes to the property
Examples of security deposit in a Sentence
Recent Examples on the Web
There are credit cards that do not require a security deposit to open, these are known as unsecured credit cards.
—Jason Stauffer, CNBC, 8 Oct. 2024
Under a new California law, renters can no longer be asked for a security deposit lthat’s more than one month’s rent.
—Angela Rodriguez, Sacramento Bee, 24 June 2024
How Indiana renters can get back a security deposit
Before moving in, take photos and videos of the entire unit.
—Jordan Smith, The Indianapolis Star, 19 Sep. 2024
That said, in order to further assuage any doubts as to its liquidity, Diamond has made a number of assurances to MLB in the form of liens and a $20 million security deposit.
—Anthony Crupi, Sportico.com, 3 Sep. 2024
See all Example Sentences for security deposit
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“Security deposit.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/security%20deposit. Accessed 5 Nov. 2024.
Legal Definition
security deposit
noun
: money provided by a tenant to a landlord to secure performance of a rental agreement or compensate for possible loss or damage
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