Be specific about the circumstances under which the funds will be returned at the end of the assignment. The parties should agree whether the utility bills are to be deducted form the deposit or paid separately.
Some homeowners ask for a security deposit to cover the owner for any accidental breakage and for the use of phone and other utility bills. It is usually an amount equal to one month of the current market rent. It has to be agreed as to who will hold the funds (usually the owner).
We recommend signing a written agreement including all the expectations of the assignment. Download Sample Agreement (PDF or Word).