question with the security deposit : ezLandlordForms

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Corinne M

started a topic over 14 years ago

I have 2 brothers that were renting my home together, and they each paid 1/2 of the deposit. They are from out of state, and one brother right after moving in, I was told by his brother that he had lost his job, and he was moving back to his home. I have no forwarding address for the brother that moved out right away. I asked the brother that is still living there if he has spoke with his brother at all, and he has not. What do I do with his portion of the deposit money, if everything pans out well? Do I give it to the other brother? I think he's thinking I'm going too, but I don't think I should, and he has not offered to give me a address, however, I have not come straight out and asked for one either. I don't think they are very close, one I think is adopted. (They lived apparently in different states).

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Denise S

said over 14 years ago

This can be a complicated situation. I always make a copy of the check I received for the security deposit and keep it on file. That is whom I make the return check out to. The other procedure I have practiced with non-related or married tenants, is to attach to the lease, a written agreement for whom should receive the security deposit at the end of the lease.

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Mary T

said over 14 years ago

I have some tenants that would like to rent my house. Can I take money upfront towards their rent?, to guarantee that they are actually going to take it. They would not be moving in until March 1st.