Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago on . Most recent reply

User Stats

31
Posts
15
Votes
Richard M.
  • Investor
  • Edison, NJ
15
Votes |
31
Posts

Security deposit deductions

Richard M.
  • Investor
  • Edison, NJ
Posted
I'm preparing for my first unit turnover and am trying to determine what is reasonable to deduct from the security deposit. There are some fairly deep scratches in the hardwood floor but unless I want mismatching areas on the floor I must buff and refinish the entire unit. Is it reasonable to deduct the cost of refinishing the entire unit or am I better off pro rating it based on the damaged areas ( ~65% of the unit)? Also, in NYC it is not common to charge for cleaning and reprinting but assuming these are needed, any reason not to deduct these costs as well? Curious to hear what is common in other areas as well as feed back from people in New York City. Thanks in advance all! Rich

Loading replies...