July 3, 2013 rummy 0Comment

When you are Returning the Security Deposit

DO wait until the tenant has moved completely out before returning any deposit money.
DON’T have a “walkthrough” with the tenant before moveout to determine the condition of the rental. Tenants like to do this to reassure themselves that they will get all their security deposit back. Instead of calling it a “walk-through”, I like to call it the “AMBUSH” because that’s really how it is when you are put on the spot. The tenant is still in possession of the rental and is insisting on getting the full deposit back.

DO Obtain the tenant’s forwarding address to send any security refunds or bills.
DON’T allow the tenant to leave without first giving you a forwarding address. We usually obtain this with the Tenant’s Notice to Vacate form. (We can send you a copy email me us at rdrealestateexperts@gmail.com)

DO Prepare a Security Settlement Statement to send to the tenant as soon as you’ve assessed the condition of the property and charges against the security deposit. (We can send you a copy email me us at rdrealestateexperts@gmail.com)
DON’T wait until the tenant calls you demanding the return of the security deposit before sending your prepared settlement package.

DO be prepared with your Security Settlement Challenge Crusher letter in case the tenant wants to try to persue the deposit money.(We can send you a copy email me us at rdrealestateexperts@gmail.com)
DON’T feel you have to keep explaining the findings to a tenant who doesn’t agree with the written settlement.