A deposit is levied by almost all owners who rent a property. A deposit is normally one (1) or two (2) months` rent, depending on the tenant`s credit information, rent history, and state laws. If a tenant damages the apartment or abandons the lease during the lease, the deposit is intended to cover any losses of the owner. If there has been no damage to the property and the lease ends, the owners have a period determined by the state to return the full deposit to the tenant. If there has been damage, the owner must add a list of repairs to be made and deducted from the deposit. Receipt of Agreement – The rental agreement is not valid unless all parties have received and confirmed the rental agreement. .