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In this video tutorial, the speaker discusses the possibility of using a tenant's security deposit to cover unpaid rent during financial hardships, such as job loss. Security deposits serve to secure performance against damages or unpaid rent. Utilizing the security deposit for rent can help keep tenants in their homes during crises. However, the legality of this practice varies by state, so it's important to consult legal counsel. While the landlord holds the deposit, it ultimately belongs to the tenant, and the landlord can only claim it if the tenant owes for unpaid rent or damages. The video emphasizes the need to navigate this carefully to avoid legal issues.