Security Deposits and vacating tenants : ezLandlordForms

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Security Deposits and vacating tenants

Wendy T

started a topic about 8 years ago

I have a unit with 3 tenants. The security deposit was paid with a money order by only one of the tenants. Is he the only one who receives the security deposit once they move out, or do all three receive it since they are all on the lease?

2 Comments

Derrick D

said about 8 years ago

The security deposit should be split up as it is written in the lease for each tenant. No matter the source that it comes from. The lease is the legally binding part and if the tenants have a feud over who owes what, you are only held responsible for what is stated in the lease.

Dan B

said almost 8 years ago

At the end of the lease you have them tell you in writing the one tenant that will be receiving the deposit if any.