when am I required to return deposit from a broken lease.

Question

Andrew B. · Answer

This will likely depend on your state law, but you should be safe to use the date tenant turns over possession of unit as the beginning of your countdown. from there state law will dictate how long you have. usually its 30 days.

Bettina F. · Answer

In addition, be sure to send a Security Deposit Accounting to the forwarding address.  You can download a template for a business invoice in Word, change the title to "Security Deposit Accounting" and add your business address.  Tally up the charges.  Send this along with the check (if any is due) or it can become a statement of charges owed.  You will end up with a very professional looking document.

Others may have different opinions, but I try to return at least SOME SD.  I believe it shows that I am not just a money-grubbing  LL.  I have never had a tenant challenge my accounting.

No forwarding address?  No problem.  Still send the SD Accounting to the last know address (your unit).  Keep the unopened letter with check in the tenant file.  Bring it to court unopened if challenged.  Let the judge open the letter himself.

Don't let this slide.  You MUST address the SD in California or you can be liable for 3 times the SD.  California law is very strict on SDs.

Katie Stewart · Answer

Hi Tom,

As @Bruce Scannell mentioned in his response, it really depends on your lease as well as your state's landlord-tenant laws. What state is this in? Is there a termination fee outlined in your lease? Do you outline the purpose of the deposit in your lease?

Bruce Scannell · Answer

Hi @Tom R.. It depends on your lease...if and when you have to return the security deposit. Do you have a lease break fee? Tally up what they owe then if you have to pay, do so as quickly as possible.

when am I required to return deposit from a broken lease.

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