A Security Deposit Doesn’t Always Cover It All

October 2, 2020 admin

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Communicate

When you select a tenant to call your rental property home, communicate what you expect of the tenant. Both during their time there, as well as when they vacate the premises. If you don’t tell your tenant that you require the carpets to be cleaned by a professional, you can end up paying for it. In this case, inform the tenant that the cost will be deducted from the security deposit. Make sure that what you require is not only verbally told to your tenant, but also included in the lease. This is a legally binding agreement.

What happens if your tenant are aware of your requirements, yet vacates the property without fulfilling the lease stipulations? You will need to contact the tenant. Remind them of the lease clause. With everything going on during a move, it is easy to overlook things. This may just be an error on the part of the tenant, without any malicious intent. However, if it becomes clear that the tenant is willfully ignoring the lease requirements, it may be time to take it to the next step.

Security Deposit Damage Demand Letter

When your tenant leaves your rental property a mess, a simple text may help to clear up a mistake. However, if it proves impossible to contact the tenant in this manner, further steps may be necessary. If your tenant has not provided a forwarding address when they vacated, this can prove difficult. But, if you have been provided with the forwarding address, send a demand letter. These types of letters outline the requirements of the tenant upon moving out. They also include an itemized list of any damages caused by the tenant. Additionally, reference the excess amount that is due.

Preventing Damages in the First Place

As the saying goes, an ounce of prevention is worth a pound of cure. It is easier to prevent the damage before it occurs. This prevention begins as soon as the screening process. Then, reinforced when the tenant signs the lease. These documents outline their responsibilities while living there, as well as what they need to do when they move out. Speak with the tenant about all sections of the lease to ensure that they understand.

It is recommended that you conduct regular inspections, including one that is conducted a month before the tenant intends to vacate. Notice if there are any holes in walls or doors. What about normal wear and tear? Any damages that have occurred during the tenant’s term? If this inspection is conducted with the tenant, it can allow the tenant to address any issues before they move. This can save both of you money and headaches.

Conclusion

As you can see, encountering the occasional nightmare tenant can be taxing. We expect others to care for our property the way we would. However, not everyone abides by that rule. When tenants damage your property, you can often be left paying for it. Security deposits can help to provide some insurance against tenant damages. Despite this, there are some instances in which the damages exceed the security deposit the tenant left when they moved in and signed the lease.

Maintaining a good line of communication with your tenant can help to prevent many of the issues that can come up during the move out process. This can be a full time job, especially if you own several rental properties. In such an event, let the professionals over at The Property Manager help to prevent headaches before they arise.