What is generally the primary intention of a security deposit?

The primary intention of a security deposit is to assure the landlord against unpaid rent and damages. This deposit serves as a financial safeguard for landlords to cover various costs that may arise if the tenant does not fulfill their lease obligations. If the tenant fails to pay rent, damages the property beyond normal wear and tear, or leaves the property in a condition requiring significant cleaning or repairs, the landlord can use the security deposit to recover those costs.

While cleaning costs might be a component considered in the use of the security deposit, the broader context encompasses both unpaid rent and damage to the property. This comprehensive protective measure gives landlords a level of financial security and encourages tenants to comply with the terms of the lease, as they will seek to avoid any deductions from their security deposit upon move-out.

Reserving the property for a longer duration or facilitating lease renewals would not be the primary function of a security deposit. Instead, these actions are usually addressed through the terms of the lease itself, which may outline provisions for renewal or extensions based on mutual agreement, independent of the security deposit.