Per Oregon law, I posted the pay or vacate notice on the 8th day after rent was due giving the tenant 3 days to move out. The tenant moved out without talking to me and isn't answering calls or texts. Is there any other paperwork that needs to happen? Do we have to officially dissolve the lease? Do I own any of the security deposit if it's less than this month's unpaid rent?
Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
2y
Many jurisdictions require you to try to rent the property out as soon as possible. You have the property cleaned/repaired/painted, etc. Deduct that from the security deposit, then advertise and try to find a new tenant. You deduct the rent for the month divided by total days in the month and add up vacant days. That’s rent.
Check with a local expert/pm/attorney to see if you have immediate control of the property, I’d feel pretty confident if it’s vacant, a little less so if there were beds/food. Get the locks changed. Try getting a text to and from tenant confirming they’re leaving, maybe asking for a future mailing address if there’s any remaining security deposit.
Rental Property Investor · Los Angeles, CA · Member since 2017 · 2k+ posts · 5k+ votes
2y
Local laws vary. Check yours.
If the deposit covers 30 days of rent and you rent it before the 30 days are over, you owe the tenant the prorated difference.
If it takes longer than 30 days to rent, you can go after the tenant for the difference. Probably not worth it for a small amount.
Whatever you do, send notice of the security deposit deductions to the tenant within the allowed time frame. You do not want to be that landlord that ends up in court and have to pay the tenant thousands of dollars in penalties since you didn't send a letter detailing why they aren't getting any money back.
Real Estate Agent · Portland, OR · Member since 2020 · 278 posts · 136 votes
2y
This semi-depends on where in oregon. City of Portland has some more stringent laws compared to the rest of the state. I'd take a look at the initial lease to see about any language around the deposit and what you are able to use. If they did leave anything behind, you will need to send them a specific form for that. Usually all of the accounting needs to be done within 30ish days I believe. Id reach out to https://www.landlord-solutions.com/ to answer some questions (they are oregon specific). Also if you need any additional forms for Oregon here are my go to: - https://store.oregonrentalhousing.com/