Security Deposits and How to Keep Them

 

ORIGINALLY PUBLISHED 07/14/17

 

 

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Today I am going to get a little more serious and talk about something that is very near and dear to your heart: your money. As you no doubt know, when we collect a security deposit from a new tenant we do so to ensure that you will take care of the unit and if not, we have some funds set aside to repair or replace damaged elements of your unit. How much of that money you get back is ultimately up to you.

A security deposit is always held in a separate account and does not mingle with other operating funds of the company as it is not our money. That is why when you moved in we asked for the deposit(s) to be paid in a separate check – it is going to a different account. That money can only be used for certain things.

WHAT CAN MY DEPOSIT BE USED FOR?

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Your landlord is in charge of updating anything in the property that wears out over time. But “if you damage the property, repairs are your responsibility,” says David Hryck, a lawyer specializing in real estate and a partner at Reed Smith in New York City. This means that “normal wear and tear” is the landlord’s responsibility. Wear and Tear can mean a number of different things and is often dependent on the unit. It is easier to say what ISN’T wear and tear. For instance, Old faded carpets might be wear and tear but stains on carpets are not and just because a carpet is old doesn’t mean you won’t get charged for a cleaning. A leaky roof is wear and tear but if you fail to notify the landlord and damages result you will be held responsible for them. Basically we want the unit returned to us in the condition it was in when you took possession. The sort of things you will get charged for include carpet cleaning (if it was cleaned before you moved in), broken doors, bent/broken blinds, dirty walls or walls with drawing/writing on them, professional cleaning services (if you did not clean the unit enough), burnt out light bulbs, dirty stove or fridge pan, etc. The main thing to remember is clean the ever-loving heck outta the place and try not to break stuff.

 

HOW CAN I GET MY DEPOSIT BACK?

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When you move in you will be asked to complete a move-in walkthrough form. Use this as well as pictures to document any pre-existing damages within the unit, this way you cannot be charged for them when you move out. Be sure to take photos when you leave as well so that you have proof of its condition. Another thing to note is that you need to leave a forwarding address with your landlord so they know where to mail the check!

If you are diligent about documenting damages, caring for and cleaning your unit, and alerting the landlord to any events or damages that might cause further damage then you should not have a problem getting back the vast majority of your deposit. Expect to pay for professional carpet cleaning regardless and don’t bother renting a Rug Doctor from Safeway because that won’t cut it. If you don’t want to pay for a professional cleaner you will need to do an amazing job of cleaning EVERYTHING! Stove, oven, fridge, drip pans, window tracks, light switches, ceiling fan blades, walls, etc. All the stuff you hate to clean – our cleaning person loves. Clean that stuff and save some money.

 

LET’S RECAP!

Document all damages on the walkthrough and take photos, make sure you alert management to any faults in the property immediately, don’t smoke in your unit, don’t get mad at your girlfriend and punch holes in things, don’t let your cat play in the blinds, and expect to pay for carpet cleaning. If you keep all these things in mind you should have no problem getting back your deposit and we’ll have no problem giving back your deposit.

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