Security Deposit

At Homiezo.com, we take a security deposit equivalent to one, two, or three months’ rent, depending on the room’s location and price. This deposit is held as a safeguard against any potential damages or unpaid dues.

Refund Process

When a tenant decides to vacate the room, the following steps will be taken to process the refund of the security deposit:

1. Inspection: Upon receiving a notice of exit, an inspection of the room will be scheduled. This inspection is to ensure that the room is returned in the same condition as it was at the start of the tenancy, except for reasonable wear and tear.

2. Deductions: Any damages to the property, unpaid rent, or other charges will be deducted from the security deposit. A detailed statement of deductions, if any, will be provided to the tenant.

3. Refund Timeline: Once the inspection is completed and any applicable deductions are made, the remaining balance of the security deposit will be refunded to the tenant. This process will be completed within one to two business days.

Important Notes

• Notification: Tenants are required to provide a written notice of their intent to vacate the room as per the terms of their lease agreement.
• Inspection Schedule: The inspection will be scheduled promptly, typically within 24 hours of receiving the notice of exit.
• Payment Method: The refund will be processed through the same payment method used to pay the deposit, unless otherwise agreed upon.
• Communication: Tenants will be kept informed throughout the inspection and refund process.