The lease agreement is a contract between the landlord and tenant to use a space for a period of time. The amount of money paid by the tenant is called rent. The landlord must return this money to the tenant at the end of the lease period if he or she does not want to renew it. If there are damages to the property, then these must be repaired by the landlord before he or she can return the money to you.

If you lived in an apartment building, then you would have been responsible for paying rent directly to your landlord. With a house, however, you pay your rent through your mortgage lender who then sends it on to the landlord so that they can cover their costs before they have any profit from their investment.

If you are buying a house, you may be able to get your deposit back if you decide not to buy the house for any reason. But if you are renting a house, you may not get your money back if you decide not to rent the house or move out early.

If You Are Buying a House

If you are buying a house and decide not to purchase it, the seller will usually give your deposit back. This is because they have lost nothing by letting you out of the contract — they still own the home and can sell it to someone else who wants to buy it.

If You Are Renting a House

If you are renting a house and decide not to rent it or move out early, there is usually no way around paying rent until your lease term ends. The landlord will keep their security deposit (and possibly charge more rent).

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