security deposit

noun

Definition of security deposit

: an amount of money that a renter pays when beginning to rent property (such as an apartment) and that can be used to pay for any damage that the renter causes to the property

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“Security deposit.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/security%20deposit. Accessed 19 Sep. 2020.

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security deposit

noun

Legal Definition of security deposit

: money provided by a tenant to a landlord to secure performance of a rental agreement or compensate for possible loss or damage

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