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Don't Be in a Rush to Return That Security Deposit

By
Real Estate Agent with Coldwell Banker Realty MD RE License 579412

Don't Be in a Rush to Return That Security Deposit

Your soon to be former tenants have packed the last box and loaded it on the moving truck.  But, before they leave for good they want their security deposit back.   So, you do the final walk through and are about to cut them a check.  Don't be in a rush!!  Some damage can't be spotted during a simple walk through, and may end up costing you quite a bit of money when you get the property ready for the next tenants.  

Some wear and tear is normal, but there are some things you should check before returning the deposit. 

Creepy Critters:  Mice, bugs and even rats won't be visible during a 5 minute walk through, but their droppings and signs may be.  A pest inspection is only about $65, so if you don't know what to look for you may want to spend the extra cash and have one inspect your property.

Hidden Damage:  Open every cabinet door and closet and make sure any built in features are still intact.  Check for cabinets and drawers  that no longer close properly, damage to built in features and shelves and other problemsthat may not be immediately visible.

Look Underfoot:  Some rug and floor damage is immediately apparent, but moveany throw rugs or area rugs or arearugs to make sure the floor or carpeting underneath is in good shape.  

Normal wear and tear is expected, but damage that destroys the carpeting needs to be noted and charged to the former tenant.  Typical carpet damage includes cigarette or other burns, petstains, food or paint stains that may be permanent.  If you see damage, look underneath to make sure the subfloor hasn't been damaged as well.  

Odors:  Air cleaning products or room fragrances may mask pet or smoke smells, but wait a few days for those flowery scents to fade.  I recently listed a rental and we tried everything to get rid of the smell, even had the carpet professionally cleaned and no matter what we tried we couldn't get rid of the smell.

Missing Items: If you haven't been inside your rental in a while, you may not realize that some items have gone missing.  When I get a new lease signed I take pictures of each room, paying particular attention to details like blinds, draperies and appliances.  I had a tenant that took the stove with her when she moved out.   Make sure your investment is the way it was or better than when they moved in.

Depending on where you live, you have anywhere from 2 weeks to 30 daysto return the deposit; reviewyour state laws and follow them.  Don't be rushed into returning the deposit.  

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June Piper-Brandon ~ Associate Broker ~ MRP, AHWD, CDPE, ePro

Coldwell Banker

410-292-0100 - Direct   410-461-7600 Office

June Piper Brandon - Agent with Century 21 New Millennium

June Piper Brandon - Agent with Century 21 New Millennium

Comments (10)

Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I no longer do managment, but when I did there was a specific time line for return of deposits spelled out in the contract.  We never waivered no matter what their story was.  We had our 72 hours to inspect and up to 7 days if we decided further inspections were needed.

Nov 17, 2014 12:23 PM
Bill Reddington
Re/max By The Sea - Destin, FL
Destin Florida Real Estate

Learned this lesson a long time ago. Normal wear and tear is one thing but have had some real nightmares with tenants especially if you allow pets.

Nov 17, 2014 12:26 PM
Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366
Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366 - Placerville, CA
General Contractor, Dry Rot and Water Damage

I bring up some great points about things that may be overlooked at first glance June.

Nov 17, 2014 12:28 PM
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

It is a good idea to check things out before returning the deposit.  Many tenant fail to pay the last month because they know the ll has the deposit.. this is most frustrating for landlords.

Nov 17, 2014 12:44 PM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     On lower end rentals, the tenants are desperate to get that deposit back; they need it for wherever they are going next.  But your point is good - make sure to do a thorough and complete inspection before handing over that money.

Nov 17, 2014 12:48 PM
Dawn Brenengen
Dawn Brenengen - Trailwood Realty - Raleigh, NC
Sales and Management

June Piper-Brandon I always wait until after I have walked through and my handyman has done all of his work to get the home ready for the next person.  Sometimes he spots things that I missed, and it's always nice to have the extra set of eyes on the house before I return the money.  I've been using an app called Happy Inspector, and it's a great way to make sure you note EVERYTHING in a house before someone moves in.

Nov 17, 2014 01:15 PM
Tanya Van Blake-Coleman
Van Blake-Coleman Realty, St. Thomas/www.talk-to-Tanya.com - St Thomas, VI
Improving the Quality of Your Life

Great advice June. I have seen and heard a lot in my day, but someone took a stove?! How did that go unnoticed?

Nov 17, 2014 01:58 PM
David Saks
Memphis, TN
Broker / Industry Analyst

Thank you for sharing another terrific post. Have a great day ahead.

Nov 17, 2014 08:07 PM
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning June. The law in New Jersey gives the landlord 30 days. Best to check things out carefully before returning the deposit. Great advice.

Nov 17, 2014 10:38 PM
Drick Ward Property Management / Broker Assoc
NEPTUNE REALTY - Virginia Beach, VA
"RealtorDrick" - Experienced Representation

At one time, I gave tenants the OPTION of paying an additional nominal fee (like $50 or less) to EXPEDITE their security deposit.  I have since discontinued the practice, the tenants who predominantly opted for it were those who had damaged the property in ways that a quick walk-through wouldn't catch.  There was a reason they wanted their money back quickly, and they knew it.  Good post, thanks for sharing.

Nov 18, 2014 11:38 AM