security deposit : ezLandlordForms

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Maria G

started a topic almost 16 years ago

Our tenents have been late several times and have had 2 nsf's. They now have to pay by cashiers check. They have been in violation of the lease because of this. They are now current with rent. They want to give 30 day notice to move. I have sent several letters in past stating that lease has been broken and deposit has been lost. Can I really not return the $1000.00 deposit? We have had to use it to make payment when they were short with the rent 3 times. Please advise, this is for California.

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Dawn A

said about 12 years ago

In Wisconsin, landlords are not required to put the deposit in an interest bearing account nor do they have to pay interest on security deposits.

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Bob R

said about 12 years ago

@ Dawn...Ditto for CA. To clarify, my response was to Jaime's question.

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Karen S

said almost 12 years ago

I believe the 15 days does not include holidays. So for example, Christmas would not be included as a day.

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Bob R

said almost 12 years ago

Courts are sometimes flexible, even if there was no holiday. I don’t believe that 2 days will make a difference… I would do a counter suit for the balanced owed…. The next time send an estimate of repairs and a list of the work/cost already performed. This should be within the law (check it out) should it take longer than required to fix the damages. Just hold back returning deposit in case the estimate is wrong due to unknown damages. Keep us updated. -----Disclaimer: Since I’ve been answering a lot of questions, I thought I would make the following statement. I’m not affiliated with EZlandlord Forms. I’m just here (not sure how long) to help those that have questions. Unfortunately, it is impossible to give comprehensive real estate/tax advice over the internet, no matter how well researched or written. Therefore, it is up to you to become familiar with Fed/State/Local Tax Laws. Also, if you have real questions, you should consult with an attorney or tax professional……Having 40+ yrs with Rental Property and done well, it’s my way of “Pay it Forward (check out the movie).” I always like to know if the suggestions I offer are helpful. Feel free to comment anytime. Thanks in Advance. BTW...check out the Rental Property Organizer at Simp-List.com. Free Trial Download with data. Check out the new $$$$ for 2012

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Bob R

said almost 12 years ago

You may have to since you called it a sec.dpst. Sec.dpst are held for damages and unpaid rent. Since tenant never took possession you probably can’t deduct for rent. Your next move would be to go to court for damages (breaking lease)… rent due until new tenant is found and possibly cost of finding new tenant….This is why when a contract is signed, it should be call a non-refundable hold deposit which is transfer to sec.dpst when new tenant gives you the balance due and you give them the keys. . -----Disclaimer: Since I’ve been answering a lot of questions, I thought I would make the following statement. I’m not affiliated with EZlandlord Forms. I’m just here (not sure how long) to help those that have questions. Unfortunately, it is impossible to give comprehensive real estate/tax advice over the internet, no matter how well researched or written. Therefore, it is up to you to become familiar with Fed/State/Local Tax Laws. Also, if you have real questions, you should consult with an attorney or tax professional……Having 40+ yrs with Rental Property and done well, it’s my way of “Pay it Forward (check out the movie).” I always like to know if the suggestions I offer are helpful. Feel free to comment anytime. Thanks in Advance. BTW...check out the Rental Property Organizer at Simp-List.com. Free Trial Download with data. Check out the new $$$$ for 2013

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Barbara D

said almost 12 years ago

Thank You

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Jerry S

said almost 12 years ago

Thank you so much for your reply.. My wife and I have owned rentals for past 7 years with no issue's or lawsuits.. But this guy is a piece of work.. Hard because the laws in AZ although written in black and white do not outline any exceptions or alternatives on this subject. It does make sense because of the issue's of damages and holidays the court would understand why it was late going out. But I did keep in contact and he knew of the issue's and still filed when he knew I was deducting damages. I think his last way of scaring me into just paying it and being done with it. Not me.. He damaged my property and will see it to the end. Again thanks for your reply, was very helpful.. Karen response didn't answer any of my questions...

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Bob R

said almost 12 years ago

Don’t kill yourself trying to get all the repairs done within the notification time limit. If the work can not be completed, all you need to do is send tenant a list of repairs and approx cost by certified mail/return receipt. If repair cost is over the sec.dpst, let them know what the approx. bal due you is. Check your State law about Notification. If you need to refund them, let them know what the amount is and tell them that they will receive a return when all the work is completed. Or send them a partial bal due less a % (20, 30, 40%) to cover unexpected damages that may be discovered. . -----Disclaimer: Since I’ve been answering a lot of questions, I thought I would make the following statement. I’m not affiliated with EZlandlord Forms. I’m just here (not sure how long) to help those that have questions. Unfortunately, it is impossible to give comprehensive real estate/tax advice over the internet, no matter how well researched or written. Therefore, it is up to you to become familiar with Fed/State/Local Tax Laws. Also, if you have real questions, you should consult with an attorney or tax professional……Having 40+ yrs with Rental Property and done well, it’s my way of “Pay it Forward (check out the movie).” I always like to know if the suggestions I offer are helpful. Feel free to comment anytime. Thanks in Advance. BTW...check out the Rental Property Organizer at Simp-List.com. Free Trial Download with data. Check out the new $$$$ for 2013.

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Dawn A

said almost 12 years ago

Yes, security deposits are for repairing damages to the property.

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Jeff C

said over 11 years ago

I'm just curious...what did you think the security deposit was for, perhaps rent??? I had to look that one up myself, but again, just curious as to what you thought it meant. :)

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Karen S

said over 11 years ago

This depends on the state your rental is located in.

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Jeff C

said over 11 years ago

it says on my lease 21 days

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Bob R

said over 11 years ago

Yep, you have 21 days. On another note - I hope you also notified the tenant that they are entitled to a pre-inspection no earlier than 2 week before move out. This, in addition to the final inspection after all belongings have been removed. If you don’t notify them of their right, you will loss in Small Claims Court if you file a claim and will also pay a fine. .. -----Disclaimer: Since I’ve been answering a lot of questions, I thought I would make the following statement. I’m not affiliated with EZlandlord Forms. I’m just here (not sure how long) to help those that have questions. Having 40+ yrs with Rental Property and done well, it’s my way of “Pay it Forward (check out the movie).” However, it is up to you to become familiar with Fed/State/Local and Tax Laws. I always like to know if the suggestions I offer are helpful. Feel free to comment anytime. Thanks in Advance. BTW...check out the Rental Property Organizer at Simp-List.com. Free Trial Download. A great program at a great price! Check it out.

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Bob R

said over 11 years ago

I would not remove the Dish since you cannot stop tenant from having one installed. Leave it there incase another tenant wants to use it…….I would get 3 estimates (cost & time to clean) of the same type of cleaning and take the average hourly cost. Since you don’t do cleaning as a business, I would not claim more hours to clean even it took you longer. -----Disclaimer: Since I’ve been answering a lot of questions, I thought I would make the following statement. I’m not affiliated with EZlandlord Forms. I’m just here (not sure how long) to help those that have questions. Having 40+ yrs with Rental Property and done well, it’s my way of “Pay it Forward (check out the movie).” However, it is up to you to become familiar with Fed/State/Local and Tax Laws. I always like to know if the suggestions I offer are helpful. Feel free to comment anytime. Thanks in Advance. BTW...check out the Rental Property Organizer at Simp-List.com. Free Trial Download. A great program at a great price! Check it out.

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Jeff C

said over 11 years ago

Thank you for your reply. Also, I used cleaning products that I had available at home. How do I determine a cost of cleaning products from my home?