Usually that should cover normal wear and tear and the tenant should be aware when moving in of the fact that if they do not leave the unit the way they found it when they first moved in, you will be able to use some of that security deposit and not return it all to them....
May be if you did not, then for the next tenant you may want to consider that. As far as replacing hardwood,
if it is in really terrible condition???? How about refinishing it?
Hope this helps a little.
Edith Karoline - YourRealtor4Life!
Working always in the very BEST interest of her clients...
Damage to hardwood floors might fall under "normal wear and tear," so wouldn't be a recoverable expense from a tenant.
Are you asking as a tenant or as a landlord?
It's always a good idea to take pictures of the unit when the tenant moves in so you can refresh their minds as to how it should look when they move out.