Bob leased an apartment for three years from the Steiners. He was never late on his rent in those three years, kept the apartment immaculate, and never caused a moment of trouble. He has recently purchased his first home and moved out of the apartment. As expected, Bob gave the Steiners sixty days’ notice he would be moving and left the apartment in perfect condition. It has been 45 days since he moved out and he's been watching for his security deposit refund to purchase a new sofa. When should he expect his security deposit refunded?

1. If there had been no damage or cleaning required, which seemed highly unlikely in Bob’s case, the landlord should have refunded his security deposit within 21 days of Bob’s vacating the property.

2. If there had been no damage or cleaning required, which seemed highly unlikely in Bob’s case, the landlord should have refunded his security deposit within 30 days of Bob’s vacating the property.

3. If there had been no damage or cleaning required, which seemed highly unlikely in Bob’s case, the landlord should have refunded his security deposit within 14 days of Bob’s vacating the property.

4. None of the Above.

Correct Answer:

1. If there had been no damage or cleaning required, which seemed highly unlikely in Bob’s case, the landlord should have refunded his security deposit within 21 days of Bob’s vacating the property.

Explanation:

According to the tenancy agreement which is binding between landlords and tenants, the most logical time fora tenant to be refunded his deposit would be within 21 days of exiting the apartment. Especially, if there has been no damage on the said apartment whatsoever.