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Updated almost 4 years ago on . Most recent reply

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Hai Le
  • Investor
  • Miami, FL
11
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37
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Security Deposit Refund ?

Hai Le
  • Investor
  • Miami, FL
Posted

I have tenant leasing my garage for $850 from May 1st to November 1st on a 6 month lease. He is planning on leaving tomorrow (August 3rd). He’s paid me for august rent already but leaving early. Do I refund him his security deposit or keep it towards early lease termination? 

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Greg M.#2 General Landlording & Rental Properties Contributor
  • Rental Property Investor
  • Los Angeles, CA
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Greg M.#2 General Landlording & Rental Properties Contributor
  • Rental Property Investor
  • Los Angeles, CA
Replied

You follow the law that is specific to your unknown area.

You likely have to try and re-rent the unit. You charge him the lost rent between when he last paid and when you re-rented it. You can deduct it from his security deposit.

You likely have to notify him of any potential deductions within a certain number of days (likely 30, but may be more or less). 

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