Tenant Security Deposits

A common question asked by both owners and tenants regards the return of a tenant's security deposit. Once the lease term expires and the tenant moves out, we are required to return tenant's security deposit, less and damages, within 30 days of move out. The question is, how do we determine damages? The short answer is that tenants are responsible for damages over and beyond normal wear and tear.

As your property management company, it is our job to know, within reason, the condition of your property. During our initial visit to your property we make notes, take pictures, etc. Additionally, each tenant is provided with a move-in inspection form which is used to note any maintenance issues that need to be addressed, or to simply note something that they do not want to be held responsible for when they move out. A great example of this would be a carpet stain. Those of you that have children as well aware of the problem that occurs when a "red" beverage is spilled on carpet . . . it is nearly impossible to get out, even by a professional carpet cleaner. The owner has chosen not to replace the carpet, the stain may be small and will be hidden by furniture. The tenant needs to note the location of this stain on the move-in inspection form so that they have it on record that the issue existed when they moved in. Because we use this same form for move-out inspections, the tenant's security deposit would not be charged.

Which brings us to normal wear and tear. Will a tenant's security deposit be charged to repaint the house? If there is only normal wear and tear, no it will not. If their budding Picasso has used the living room wall as a canvas, then yes it will. Also at move-out tenants, at minimum, will need to make sure that the kitchen (including appliances, counter tops, cabinets) and bathrooms are cleaned, that you have swept and mopped floors, carpets are vacuumed, and that all trash has been removed from the property. If carpets are dirty, they will need to be cleaned. If walls have been painted, they may need to be returned to their original color. Doing these things will help us in returning a tenant's security deposit more quickly.

For more information on our property management services, or for a current list of our available homes for lease in Charlotte, Monroe, Waxhaw, Fort Mill, Harrisburg, or the surrounding areas, visit our site at http://cmrpropertymanagement.com .