Lease extension -> Security deposit adjustment?

[talan_z]

Hello everyone,

I'm about to sign a lease extension of my current lease. Current rental is SGD4300, now going to be 3800. I paid 2x4300 as Security deposit. Is it standard practice to adjust the SD to 2x3800 and give a refund? The extension is only for a year.

Thank you!
Talan

[PNGMK]

Hello everyone,

I'm about to sign a lease extension of my current lease. Current rental is SGD4300, now going to be 3800. I paid 2x4300 as Security deposit. Is it standard practice to adjust the SD to 2x3800 and give a refund? The extension is only for a year.

Thank you!
Talan

There should be an adjustment but what it is is what you negotiate.

[x9200]

I'm about to sign a lease extension of my current lease. Current rental is SGD4300, now going to be 3800. I paid 2x4300 as Security deposit. Is it standard practice to adjust the SD to 2x3800 and give a refund? The extension is only for a year.

I always do it, adjust the amount, including, if the contract goes from 2y to 1y term, the adjustment should be to 1x3800. Never had any problems with that but this is what you have to agree with the landlord and some of them are not exactly reasonable.