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What is a Landlord's Duty for Return of a Commercial Security Deposit

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  • 10-09-2015, 08:04 PM
    Voidsherpa
    What is a Landlord's Duty for Return of a Commercial Security Deposit
    My question involves landlord-tenant law in the State of: Indiana

    In Indiana, if the landlord of a commercial rental fails to return security or supply reasons for keeping it after months beyond the end of the lease, do they lose the right to keep the deposit as they would if it were a residential lease? The only part in the leasing agreement in regards to the refunding of the security deposit states,

    "Upon the termination of this Lease (provided Tenant is not in default hereunder) Landlord shall refund to Tenant any then remaining balance to the deposit without interest."

    It is going on 40+ days since the end of the lease and when I spoke to them they stated "they had 90 days to do anything" in regards to the security deposit. It has been a trying experience to deal with the company (in 12 months they had not addressed a single maintenance request and had lied the entire time about it, playing dumb ect.). Property was left in proper condition by me. That being said I do not have a hard set date written in the lease, or from them in writing, and take their words with a grain of salt. The only state law I can find IC § 32-31-3-12 appears to only apply to residential landlord/tenant leasing agreements. What would be my best course of action?
  • 10-09-2015, 10:25 PM
    adjusterjack
    Re: Commercial Security Deposit Returns in Indiana
    Quote:

    Quoting Voidsherpa
    View Post
    The only state law I can find IC § 32-31-3-12 appears to only apply to residential landlord/tenant leasing agreements.

    That's true. Indiana has no landlord tenant law for commercial tenancies.

    Your agreement is just what your contract says it is.

    Quote:

    Quoting Voidsherpa
    View Post

    "Upon the termination of this Lease (provided Tenant is not in default hereunder) Landlord shall refund to Tenant any then remaining balance to the deposit without interest."

    That being said I do not have a hard set date written in the lease,

    Yes you do. It's in that sentence you quoted from the lease.

    "Upon the termination of this lease..."

    So, what was the date of the termination of the lease? That's the date the contract says you get your security deposit back.

    Quote:

    Quoting Voidsherpa
    View Post
    What would be my best course of action?

    Sue for breach of contract.
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