I just had a tenant move who made significant scratches/gouges in the floor such that I believe it detracts from the overall quality of the apartment. The scratches take up about 10-20 linear feet, and would require replacing about 20 boards of engineered hardwood (like plywood) that are currently glued down (not floated, like a lot of engineered installations are).
I would like to fix the damage at some point, but as it turns out we were able to find a tenant (albeit for lower monthly rental that the first tenant). At the end of the next tenancy, I would like to fix the boards or replace the floors altogether, primarily because of the scratching and deep gouging damage done by the previous tenant.
The apartment is located in NYC. Do I have the right to hold all of her deposit, or just a portion of the cost to replace the floors, or just the cost to replace damaged boards, or nothing at all -- considering that the apartment is already rented out?
Thanks in advance!
You may keep the security deposit if the damage exceeds the deposit or return a portion of it based on the estimated repairs You must return deposit within a reasonable amount of time This is the New York laws
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing