Actually, even though most people may think they know what a security deposit is, they don’t, and there are just as many misconceptions about how that money can be spent. You’ve likely heard, “You get your security deposit back if you don’t renew the lease.” but is that actually true? Does the money have to go towards repairing damage you cause? You hear answers to lots of questions and accept them as fact just because its frequently said. Unless you know somebody who’s a landlord(In which case why are you here?) you don’t know as much about security deposits are you think.