HEY, MOVE ME OUT!
Seems easy right? I always thought so. I mean how hard can property management be? You Find a Tenant in Tallahassee who stays for an extended period of time in your Tallahassee Real Estate Investment, pays you rent, and then moves out or renews when the lease is up.
Ah, to the contrary. The real work begins when the tenant moves out..... In Florida, liability begins when the tenant moves out.
Yes, cleaning up the mess.
But today we are going to approach this from a different perspective. Let's look at what happens to that Security Deposit?
Did you know that you have 30 days to file a claim against it? Most people think that the security deposit is the owner's money. Well, it's not until a claim has been made against it. And even when that is done, there is still a waiting period. The law in Florida is very clear and I am going to give you some tips that will help keep you out of trouble.
Here you go...
- If you are returning the deposit in full, you have 15 days from move-out
- A claim against the deposit must be made within 30 days of move-out
- The claim must be sent certified mail
- The claim must be sent to all of the last known addresses of the tenants
- You must name all of the residents who signed on the lease
- The tenant has 15 days to object in writing to the security deposit
- Do not overcharge or charge for ordinary wear and tear
I know it gets confusing.
Make sure you know the law in your state when processing your security deposit claims because a $1 error can cost you up to $10,000 in court costs. Seek professional help in these matters or contact your attorney if you are unsure. Remember each state is different so do your homework.
Well, enough from me on security deposits.
In an attempt to demonstate superior awareness of our current market conditions, my General Manager Dave Peeples, has been trying to teach me the "new way" to get business on the internet. He said he taught me "all the right moves," and that this will be a synch. I'd appreciate any comments as to whether or not you agree (especially if you are an "e-PRO"). Here is the Link.