The idea behind a security deposit is a form of protection (security) for the landlord which he can use to claim against for damages at the end of the lease.
If the lease has been 3years from onset, then the total security deposit shall be 3mths rental. If it is 1year lease, the deposit is just 1 mth.
However in your case, it is a 2+1 lease, you would have paid just 2mths. Technically, you've already completed the 2yrs obligation, and logically you should be refunded the 2mths. In your extension of 1year, logically you should also be paying 1mth deposit, which means in theory the owner should refund you the one mth (the net difference).
However, for ease of paper work, in lease extension I did, we normally allow owner to keep the 2mths, and state so in the renewal contract that the 2mths will be carry forward as the deposit for this 3yr extension, resulting in no new deposit payment by the tenant. This, I feel is the clean way to do this.
Frankly, at the end of the day, it still depends on both parties' mutual agreement.
If you need more clarification, feel free contact me at
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. I've helped many Tenant ensures they are protected fairly.
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