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SECURITY DEPOSIT ISSUES
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Getting deposits back:
Most tenants are concerned with their ability to get their Security
Deposits returned to them. First of all we frequently return
all or part of a tenants security deposit. However there are
several things that you need to do.
First of all, you will need to have all outstanding charges
on your ledger paid. Secondly, you will need to give proper
written notice that you will be vacating. Finally, the property
has to be in ready to move-in condition. Most tenants don't
want to go to that much trouble to get a place in shape. They
ignore the little things like cleaning windows and blinds. Or
they will attempt to clean the carpet themselves with less than
adequate results. However, for those tenants that do what is
necessary, we return their deposits.
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Owner holding deposits:
It's much more difficult for us to return deposits if we never
got them. Many times we'll get involved with a property after
a tenant has moved in and they had given the owner their Security
Deposit. Usually, in this instance the tenant will need to get
in touch with the owner for the return of their deposit.. remember,
we never had it.
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Deposit returned - time frames:
It can take from a few days to as long as thirty (30) days to
get your deposit returned to you. For the most part it depends
on you. If the unit is rent ready, ready to go, it usually takes
a few days. If there are repairs, and cleaning that need to
be done, then probably it will be closer to 30 days. The more
you do, then the less we need to do, and the faster a return
can usually be made.
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You need to make sure that we have all of your forwarding
information on file when you vacate. It's difficult to return
deposits if we don't know where you've gone to.
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Property Problems - Evictions
If there has been an eviction, of if there
is a lot of work to be done, it isn't likely that any portion
of the deposit will be eligible to be returned. In fact, if
there still remains unpaid charges for rent, court fees, or
cleaning and repairs, it's possible that not only will all
of a tenants deposit be used up, but that the remaining balance
owed would be turned over to a collection agency or possibly
small claims court.
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