How Not to Return Your Tenants’ Deposits

The LandlordBlog has some very good advice on how to not return your tenants’ deposits.

 

That’s right, don’t beat around the bush.  If they didn’t do what they were supposed to do, as in clean their units, start charging.  As the LandlordBlog points, charge them on an hourly rate.  It can add up fast.

 

 

More importantly, he tells us how to do it.  For example, spell everything out.  It’s best to put the  details in a lease addendum. 

 

All of this reminds me of one of our tenants who literally destroyed the living room carpet and then demanded her deposit back because she said there was a fingernail polish stain outside the bathroom that we were charging her for.  Good try, my dear.

 

Turns out this girl, or her room mate, were into furniture refinishing and did it all in the living room right on the carpet, without newspaper or any kind of protection.  Needless to say, there were a lot of tears and anger, but she didn’t get her deposit back. 

 

Go to The LandlordBlog and read Security Deposit Returns Affect Profitablity   

More from the Net

Tenant will not return keys

Security Deposit Itemization Form

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