What Can a Landlord Deduct From Your Rent Deposit?

July 29, 2024
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Landlords in Sri Lanka do take a deposit that extends to about min. 03 months to max. one year of the rental amount when renting their homes. This is done as a safety measure. So if you had made that deposit and wondering on how much of that deposit sum you will be actually receiving at the time of vacating, then as a Sri Lankan tenant you need to be aware of the below.

Nonpayment of Rent

Landlords have the right to deduct any rent sum that you owe which you could not pay or delayed due to any reasons.

Unpaid Utilities

As a tenant if you have not settled your monthly electricity or water bills, then any arrears could be recovered by the landlord from your deposit.

Tenant Property Damage

If a tenant has caused any damages to the property or left the place very untidy, then the landlord has the right to deduct the amount to repair the damages and to clean the house, especially if you had left any items like used mattress. Damages might include stained walls, broken furniture or even missing fixture’s. Tenants have to handover the property back to the owner, in the same condition it was when they occupied.

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Imputed Rental Income Tax on Residential Properties

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Sri Lanka plans to introduce a new Tax on 2025 targeting owner-occupied and vacant residential properties starting from April 2025. This new Tax will replace the previously proposed Tax for 2025. IMF supports this new tax initiative as part of country’s revenue generation efforts.

Imputed rental income tax calculates the revenue a property owner can earn if he or she rents out the property and taxes them on that potential income. This tax is derived on the possible income from the property rather than its value.

The IMF has time and again expressed that Sri Lanka must focus on setting-up a data vault at the municipal level to enact this tax system.

Secrets You Shouldn’t Keep From Your Landlord

April 27, 2024
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The landlord is the owner of the house you are currently staying and the owner needs to keep his property secure. Period. Hence there are certain things you should abide as a good tenant which includes being open about certain matters to the landlord.

 

ADOPTING A PET

When you arrived to your rented home, you never had any pet or the intention to adopt one. When the owner inquired too, you mentioned that you didn’t or didn’t plan to. But somehow down the road, you found in love with a puppy or cat and took him/her in. Now you are trying to keep it a secret. This is not correct and could jeopardize the trust the landlord has on you. Once the trust is broken, then your landlord might try to evict you both from the premises.

 

SOMEONE MOVED-IN WITH YOU

We all come across situations where a relative of ours or a good friend or your girl/boyfriend moves-in temporarily to find a job or during a bad breakup or for any other matter. You should inform and get the permission beforehand from the landlord. The owner is worried about the value and maintenance of his property and the more people occupy the property, the more wear and tear. There could be limitation on the number of person that could be accommodated into the house due to its size and facilities etc. Hence it is advisable to get prior permission from landlord and if requested to pay a higher rent than to keep a low profile or hide the fact someone is living along with you.

 

YOU LOST YOUR HOUSE KEY

One day you lost the house key. This happens. It is beter to say the truth about where and when you lost it as this is directly connected to the safety and secureness of the owner’s property. Depending on the situation the owner might charge to get an extra key or even charge for the replacement of the door locks. But the safety of the property and yourself matters more than the cost of the replacement.

 

CLOGGED TOILET, WATER STAINS & ANY DAMAGES

Sudden water stains could be due to a leaky roof and a plumbing issue. The problem will only continue to worsen overtime which would cause major issues later like short circuits. Also if there is a clogged toilet due to your irresponsible behaviour of flushing foreign objects, please do not try to self-repair as in case the damage worsens, you will be held responsible for both hiding the issue and causing a major problem. So it is best to honest with the landlord and try to limit a major setback.

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