Hey everyone - I just signed up for bigger pockets and this is my first post. Any advice would be appreciated. I currently house hack. I live in one apt and rent the other apt in my primary residence. My first tenant ever is moving out June 15th after buying his own home, and my question is based around giving his security back. I collected 1.5x the monthly rent and need to give him back $2400. The day he moved in, he broke the key off in the lock (lol yes, I know). I had to buy a new lock, and have my handyman (I stunk at that stuff at first) put in the new lock, make new keys, etc. I also have on recorded video (I installed cameras on the outside of my home for security) - someone leaving from his apt go into the side of the house to throw the trash out, and broke the gate latch as well as put a small 2x2 hole in my pvc fence. All of this stuff combined, Im not sure how to take these items off of his security, and if theres a form I can use to provide him with along with the bank check in his name. I dont know exactly how much I spent on the lock but I can estimate, how much the handyman specifically charged me for that replacement (he did a few things that day) - I know what I paid for the new gate latch, great - he still put a hole in the pvc that isnt worth fixing, but how do I charge him for that if I dont fix it? Should I get a quote on what it will cost for a new pvc post recplacement. I think I explained everything thats going on, but can provide more info if need be. Im really looking for any advice possible so that I dont handle this wrong and run into any issues. Thanks in advance. PS - The tenant is very nice and was great for me, so I want to do right by him as well! :)
i'm a new investor, but I would say charge him for the big fixes, and maybe take care of the small things like a latch, etc. If he has been a good tenant, on time with payments, and responsible with YOUR house, then i would scratch his back a little bit. But be ready to explain what he is being charged for and why. I had a landlord one time that spared us a toilet. In our college house, someone slipped on the wet bathroom floor getting out of the shower and tried to catch themselves with the toilet and snapped it in half. We explained the situation to our landlord, and he took care of it. I won't forget that, and i still recommend him to people.
It sounds like you are nickel and dimeing him. Charge for any magor fixes and the other small stuff leave it alone. How long was he there? You have to state what and why you with held his deposit so prepare an itemized list of what ever you decide to charge him for.
I would not even worry about those small items, I would return his deposit in full if he's been a great tenant, he may refer somebody your way in the future, could be great when you expand. I don't believe in charging the tenant for everything you can, shows your greed a bit, I will just repair the items if the cost is minimal.
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