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How to return a security deposit to a tenant

Returning a security deposit may sound simple, but there is more to it than many might realize.

For example:

  • What if cleaning or maintenance needs done?
  • What if repair costs exceed the deposit?
  • What documentation should be provided to the tenants?
  • Etc.

In this video we provide some great tips on handling the security deposit, as well as how to efficiently and thoroughly prepare a unit to be rented again and return the deposit to the tenants. Take a look:


Comments

  • Ethel Sauls says:

    Who should receive the tenant’s late fee the property manager or the property owner? Tenant has been late paying rent for 3 months and there’s no renewal lease in place. Rent has been paid but not on time.

    • Rent Like a Pro Team says:

      Property manager should receive the late fee unless otherwise negotiated. This is to compensate for additional work it takes to collect funds (serve pay or quit notices, etc.)

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