Security deposit (PH norms)

Security deposit — under the standard PH residential structure (“2+1”), two months’ deposit plus one month advance rent, all stated in the notarized lease. The deposit covers unpaid utilities, damage beyond fair wear, and breach — returned within the contract’s stated window (commonly 30–60 days) after clearances; it is not rent, and letting a tenant “use up the deposit” as final months before bills are verified is how landlords end up paying a stranger’s Meralco. The Rent Control Act (RA 9653, as extended) caps deposits and escalations for covered lower-rent units — check current thresholds if you operate there.

First used in: 3.9 · Operating the asset