Returning Deposit: Sending Certified Mail vs. Bank Deposit
My tenants are moving out and I sent them a letter informing them of the process for the move out inspection as well as returning their deposit. I asked for a forwarding address to send the deposit via certified mail. They don't want to give their new address for whatever reason and are asking me to deposit funds in their bank account instead. I wanted to do certified mail so that I have proof that it was received. Will the bank deposit be as safe of a method?
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As the Landlord, you have to protect yourself! I do not understand why the tenants do not want to give their forwarding address. That comes off as if they do not want to be found for whatever reason. Depositing a security deposit into a bank account is not enough in my opinion. I need some type of signature from the tenant stating that they received it. Maybe you all can meet at the bank and they can sign off on the security deposit. This may be the second best option if they do not want it certified mail.